Gold Futures Slip Amid Ongoing US-China Tariff Dispute
KUALA LUMPUR, April 30 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives closed lower today amid dampened demand for the precious metal, as the ongoing tariff feud between the United States and China continues to weigh on sentiment.
SPI Asset Management managing director Stephen Innes told Bernama that despite underlying trade tensions, the lack of escalation in tariff disputes has dulled bullion’s appeal as a safe-haven asset.
At today’s close, the spot month April 2025 contract fell to US$3,284.30 per troy ounce from US$3,316.90 yesterday, while May 2025 settled at US$3,293.30 per troy ounce against US$3,325.90 previously.
The June 2025, July 2025, and August 2025 contracts eased to US$3,311.10 per troy ounce from US$3,343.70 on Tuesday.
Trading volume declined to 53 lots from 64 lots yesterday, while open interest increased to 90 contracts from 37 contracts previously.
According to the London Bullion Market Association’s afternoon fix on April 29, physical gold was priced at US$3,305.05 per troy ounce.
-- BERNAMA