Gold Futures End Higher Amid Geopolitical Tensions

KUALA LUMPUR, Nov 18 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives closed higher on Monday, driven by increasing geopolitical tensions in the Middle East that increased investor demand.

Spot month November 2024 rose to US$2,597.70 per troy ounce from US$2,572.30 per troy ounce last Friday.

Meanwhile, contracts for December 2024, January 2025, February 2025 and April 2025 all settled at US$2,611.10 per troy ounce against US$2,585.80 previously.

Trading volume narrowed to one lot from eight lots last Friday, while open interest fell to 26 contracts from 36 contracts previously.

According to the London Bullion Market Association’s afternoon fix on November 15, the price of physical gold stood at US$2,571.80 per troy ounce.

-- BERNAMA