Gold Futures End Lower Amid Stronger US Dollar, Fed Rate Talks

By Harizah Hanim Mohamed

KUALA LUMPUR, July 16 (Bernama) -- The gold futures contracts on Bursa Malaysia Derivatives ended lower amidst a firmer greenback and ongoing discussions about interest rates in the United States

SPI Asset Management managing partner Stephen Innes said gold traded lower today, weighed by a firmer US dollar and market expectations that the Federal Reserve (Fed) will maintain higher interest rates for an extended period.

“Gold is not rallying hard, but it is holding ground in a market where trust is the real casualty. This is not about US rate cuts, but it is about credibility erosion. In that kind of environment, gold does not need to scream. It just needs to wait,” he told Bernama.

At the close, spot-month July 2025 contract slipped to US$3,349.50 per troy ounce from US$3,371.60 per troy ounce yesterday.

The August 2025 contract fell to US$3,367.70 per troy ounce from US$3,389.80 per troy ounce at Tuesday’s close, and the September 2025 contract slid to US$3,373.60 per troy ounce from US$3,395.70 per troy ounce previously.

The October 2025, December 2025 and February 2026 contracts all settled easier at US$3,401.80 from US$3,423.80 per troy ounce yesterday.

Trading volume jumped to 97 lots from 68 lots at yesterday’s close, while open interest fell to 25 contracts from 99 contracts previously.

Physical gold was priced at US$3,345.10 per troy ounce, based on the London Bullion Market Association’s afternoon fix on July 15, 2025.

-- BERNAMA