Gold Futures End Higher Ahead Of EU Tariff Deadline

KUALA LUMPUR, July 21 (Bernama) -- Gold futures on Bursa Malaysia Derivatives ended higher on Monday, driven by safe-haven demand ahead of the Aug 1 deadline for potential new tariffs on the European Union (EU).

SPI Asset Management managing partner Stephen Innes said ongoing uncertainty surrounding the trade talks was supporting demand for gold.

“Geopolitical risks in Europe remain in focus after the EU lowered the price cap on Russian oil exports, raising fresh concerns over global energy supply and inflation,” he told Bernama.

Innes added that political instability in Japan was contributing to a cautious tone, as Prime Minister Shigeru Ishiba’s weakened mandate could complicate Tokyo’s trade negotiations with Washington.

“Taken together, the combination of trade tensions, political instability, and inflation fears is pushing investors towards gold as a defensive asset, with prices continuing to firm as the new trading week begins,” he said.

At the close, the spot-month July 2025 contract rose to US$3,374.30 per troy ounce from US$3,360.00 per troy ounce last Friday.

The August 2025 contract increased to US$3,392.60 from US$3,378.30, while the September 2025 contract climbed to US$3,398.50 from US$3,384.20.

The October 2025, December 2025, and February 2026 contracts also settled higher at US$3,427.70 from US$3,413.40 previously.

Trading volume fell to four lots from 12 lots, while open interest declined to 56 contracts from 67.

Physical gold was priced at US$3,351.60 per troy ounce, based on the London Bullion Market Association’s afternoon fix on July 18, 2025.

-- BERNAMA