Gold Futures Lower On Weak Demand

KUALA LUMPUR, May 2 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives closed lower today despite a weaker US dollar, as demand for the precious metal has slowly faded, an analyst said.

At today’s close, new spot month May 2025 contract decreased to US$3,288.10 per troy ounce from US$3,293.30 on Wednesday.

Meanwhile, the June 2025, July 2025, August 2025 and October 2025 contracts declined to US$3,288.10 per troy ounce compared to US$3,311.10 previously.

Trading volume decreased to 33 lots from 53 lots on Wednesday, while open interest slid to 40 contracts from 90 contracts previously.

According to the London Bullion Market Association’s afternoon fix on May 1, physical gold was priced at US$3,214.75 per troy ounce.

-- BERNAMA