Gold Futures End Lower Amid Weak Demand

By Siti Radziah Hamzah

KUALA LUMPUR, March 6 (Bernama) -- Gold futures on Bursa Malaysia Derivatives ended lower on Thursday due to weak demand.  

SPI Asset Management managing partner Stephen Innes told Bernama that gold is stuck in a tug-of-war between competing market narratives, and the balance has tipped against the bulls (investors who believe the price will rise). 

“The seismic surge in global bond yields -- driven by Germany’s trillion-euro stimulus bazooka -- has tarnished gold’s appeal, making it a harder hold for yield-sensitive investors,” he said. 

 Innes added that Donald Trump’s tariff rollback on Canada and Mexico has dialled back some of the risk aversion that had been supporting gold.

“When the safe-haven bid weakens and real yields push higher, gold struggles and that is exactly the story playing out today,” he said. 

The spot month March 2025 contract eased to US$2,906.40 per troy ounce from Wednesday’s US$2,925.30 per troy ounce, while April 2025 dipped to US$2,916.20 per troy ounce from US$2,935.50. 

The May 2025, June 2025, and August 2025 notes also fell to US$2,924.60 per troy ounce from US$2,946.10 per troy ounce yesterday. 

Trading volume slipped to 154 lots from 176 lots, while open interest eased to 188 contracts from 209 contracts previously.  

According to the London Bullion Market Association’s afternoon fix on March 5, physical gold was priced at US$2.913.25 per troy ounce. 

-- BERNAMA