Gold Futures Close Higher

By Durratul Ain Ahmad Fuad

KUALA LUMPUR, Jan 20 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives closed higher today, fueled primarily by a dip in the US dollar and a continued decline in US Treasury yields following last week’s softer inflation data.

SPI Asset Management managing partner Stephen Innes said the uncertainty surrounding President-elect Donald Trump’s upcoming executive orders also plays a significant role in the market’s nervousness.

“Today, gold has successfully rebounded from the anticipated support level of US$2,685-US$2,690, as traders seek safe-haven assets amidst the fluctuating economic signals,” he told Bernama. 

Spot month January 2025’s contract rose to US$2,708.80 per troy ounce from US$2,702.70 per troy ounce last Friday, and February 2025 increased to US$2,717.70 from US$2,711.20 per troy ounce previously.

The March 2025, April 2025, and June 2025 contracts closed lower at US$2,725.80 from US$2,719.30 per troy ounce previously.

Trading volume declined to 27 lots from 40 last Friday, while open interest slipped to 56 contracts from 78 contracts previously.

According to the London Bullion Market Association’s afternoon fix on Jan 17, the physical gold price stood at US$2,715.20 per troy ounce.

-- BERNAMA