Gold Futures Close Lower Amid Hawkish Fed Outlook

By Danni Haizal Danial Donald

KUALA LUMPUR, June 23 (Bernama) -- Gold futures on Bursa Malaysia Derivatives closed lower on Tuesday tracking softer United States COMEX markets as the hawkish US Federal Reserve (Fed) outlook on a potential interest rate hike weighed down market sentiment.

SPI Asset Management managing partner Stephen Innes said investors are closely monitoring Thursday’s US Personal Consumption Expenditures (PCE) inflation data for further clues on the interest rate outlook.

“The precious metal fell alongside the equity market even as oil prices continue to ease, with the bullion down nearly 1.5 per cent intra-day and pressing back toward the US$4,100 level,” he told Bernama.

At the close, the spot-month June 2026 contract fell to US$4,118.10 per troy ounce from US$4,209.30 at Monday’s close, while the July 2026 contract went down to US$4,132.50 per troy ounce from US$4,223.70. The August 2026 contract decreased to US$4,154.10 per troy ounce from US$4,244.80.

The September 2026 contract advanced to US$4,158.60 per troy ounce from US$4,249.30 at the previous close, while the October 2026 and December 2026 contracts were lower at US$4,177.70 per troy ounce from US$4,268.40.

Trading volume increased to 19 lots from five on Monday while open interest was up to 86 contracts from 71 previously.

Meanwhile, physical gold was fixed at US$4,196.95 per troy ounce at the London Bullion Market Association afternoon fix on June 22, 2026.

-- BERNAMA