Gold Futures Close Lower On Softer COMEX Prices

KUALA LUMPUR, May 28 (Bernama) -- Gold futures on Bursa Malaysia Derivatives closed lower today, following a decline in COMEX prices.

It was reported that COMEX gold futures were declining amid stronger US Treasury yields, persistent inflation concerns and expectations that the Federal Reserve (Fed) would keep interest rates higher for longer.

Meanwhile, an analyst said market sentiment was also affected by renewed uncertainty surrounding the US-Iran situation, which pushed oil prices higher.

Higher interest rate expectations generally reduce the appeal of non-yielding assets such as gold, he said.

At the close, the spot-month May 2026 contract fell to US$4,405.00 per troy ounce from US$4,537.50 per troy ounce on Tuesday, while the June 2026 contract decreased to U$4,422.00 per troy ounce from U$4,554.50 per troy ounce.

The July 2026, August 2026 and October 2026 contracts all settled lower at US$4,435.70 per troy ounce from US$4,68.20 per troy ounce previously.

Trading volume marginally eased to 12 lots against 13 lots on Tuesday, and open interest slightly dropped to 72 contracts from 74 contracts previously.

The market was closed on Wednesday, May 27, in conjunction with the Hari Raya Aidiladha public holiday.

Meanwhile, the physical gold was fixed at US$4,426.00 per troy ounce at the London Bullion Market Association’s afternoon fix on May 27, 2026.

-- BERNAMA