MARKET

Gold Futures End Higher Despite Stronger Dollar On Geopolitical Jitters

11/07/2025 08:00 PM

KUALA LUMPUR, July 11 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives ended the week higher, defying a firmer US dollar, as geopolitical concerns boosted safe-haven demand.

SPI Asset Management managing partner Stephen Innes said gold was seeing strong buying interest, driven less by macroeconomic flows and more by renewed geopolitical tensions.

He cited the latest round of US tariffs targeting Canada and speculation that the European Union may be next to receive a hardline trade ultimatum from Washington, both of which have reignited safe-haven interest.

“Gold is once again trading as a hedge against policy unpredictability, rather than purely on interest rate expectations,” he told Bernama.

The spot-month July 2025 contract rose to US$3,346.20 per troy ounce from US$3,338.20 on Thursday.

The August 2025 contract climbed to US$3,362.70 from US$3,353.60, and the September 2025 contract advanced to US$3,377.60 from US$3,368.50.

The October 2025, December 2025 and February 2026 contracts each settled higher at US$3,397.50, up from US$3,387.50.

Trading volume increased to 28 lots from 17 lots on Thursday, while open interest rose to 72 contracts from 59 previously.

Physical gold was priced at US$3,312.60 per troy ounce, based on the London Bullion Market Association’s afternoon fix on July 10, 2025.

-- BERNAMA

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