Gold Futures End Lower, Weighed Down By Strong Dollar After US Court Invalidates Trump’s Tariffs

KUALA LUMPUR, May 29 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives closed lower, weighed down by a stronger US dollar after a US trade court blocked most of US President Donald Trump’s tariffs on imports into the country.

The US Court of International Trade on Wednesday ruled that Trump was not authorised to invoke emergency economic powers legislation to impose the sweeping global tariffs announced in April.

The spot month May 2025 contract shed to US$3,280.80 per troy ounce from US$3,325.40 per troy ounce on Wednesday, while the June 2025 contract decreased to US$3,295 per troy ounce from US$3,339.20 per troy ounce previously.   

The July, August and October 2025 contracts eased to US$3,308.70 per troy ounce from US$3,352.90 per troy ounce previously.  

Trading volume rose to 77 lots from 58 lots on Wednesday, while open interest jumped to 123 contracts from 102 contracts.

Physical gold was priced at US$3,300.85 per troy ounce, according to the London Bullion Market Association’s afternoon fix on May 28. 

-- BERNAMA