Gold Futures Rebound After Two-Day Slide Ahead Of FOMC Meeting Minutes
KUALA LUMPUR, May 28 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives closed higher, rebounding after two consecutive days of losses ahead of the release of the US Federal Reserve’s Federal Open Market Commitee (FOMC) meeting minutes on Wednesday.
Investors adopted a cautious trading stance, taking advantage of the precious metal’s recent weakness to buy the dip, which drove demand for safe-haven assets.
The spot month May 2025 contract rose to US$3,325.40 per troy ounce from US$3,304.70 per troy ounce on Tuesday, while the June 2025 contract increased to US$3,339.20 per troy ounce from US$3,318.00 per troy ounce previously.
The July, August, and October 2025 contracts climbed to US$3,352.90 per troy ounce from US$3,331.70 per troy ounce previously.
Trading volume surged to 58 lots from seven lots on Tuesday, while open interest jumped to 102 contracts from 51 contracts.
Physical gold was priced at US$3,296.70 per troy ounce, according to the London Bullion Market Association’s afternoon fix on May 27.
-- BERNAMA