Gold Futures Close Marginally Lower

KUALA LUMPUR, Oct 22 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives closed marginally lower amidst continued concerns over escalating geopolitical tensions, the United States (US) election uncertainties as well as the slower pace of US interest rate cuts, analysts said. 

Spot month October 2024 eased to US$2,738.70 per troy ounce from US$2,741.40 per troy ounce on Monday, while November 2024 fell to US$2,753.70 per troy ounce from US$2,756.40 per troy ounce previously.

Meanwhile, the December 2024, January 2025 and February 2025 contracts all settled lower at US$2,761.80 per troy ounce compared with US$2,764.50 per troy ounce yesterday.  

Trading volume increased to 30 lots from 14 lots on Monday, while open interest expanded to 48 contracts from 38 contracts previously.

According to the London Bullion Market Association’s afternoon fix on Oct 21, the price of physical gold stood at US$2,736.45 per troy ounce.

-- BERNAMA