Gold Futures Ease On Subdued Demand

KUALA LUMPUR, Nov 20 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives ended lower today on subdued demand, tracking losses in the US COMEX gold market, an analyst said.

The analyst said escalating geopolitical risks, including the Russia-Ukraine war, provide limited safe-haven support amid a stronger US dollar and higher US Treasury yields.

Spot month November 2024 dropped to US$2,627.30 per troy ounce from US$2,636.30 per troy ounce on Tuesday.

Meanwhile, contracts for December 2024, January 2025, February 2025 and April 2025 all settled lower at US$2,640.40 per troy ounce against US$2,649.30 previously.

Trading volume fell to eight lots from 10 lot yesterday, while open interest decreased to 26 contracts from 34 contracts previously.

According to the London Bullion Market Association’s afternoon fix on Nov 19, the price of physical gold stood at US$2,623.20 per troy ounce.

-- BERNAMA