KUALA LUMPUR, Feb 19 (Bernama) -- Gold futures on Bursa Malaysia Derivatives rose further on Wednesday due to increasing uncertainty following Donald Trump’s recent tariff announcement.
Late Tuesday, the United States president stated that he was likely to impose tariffs of around 25 per cent on imports of automobiles, semiconductors, and pharmaceuticals, with an official announcement anticipated as early as April.
This news further dampened sentiment in global financial markets.
Trump reportedly blamed Ukraine for the ongoing war with Russia, suggesting that the country could have reached a deal to prevent the conflict.
This comment came in response to Ukraine’s President Volodymyr Zelenskyy’s frustration about being excluded from peace talks in Saudi Arabia.
At home, the spot-month February 2025 contract rose to US$2,946.50 per troy ounce from US$2,911.10 on Tuesday, while the March 2025 contract increased to US$2,953.60 from US$2,918.20.
April, May and June 2025 contracts went up to US$2,963.80 per troy ounce from Tuesday’s US$2,925.40.
Trading volume widened to 86 lots from 37 lots yesterday, while open interest improved to 157 contracts from 103 contracts.
According to the London Bullion Market Association’s afternoon fix on February 17, physical gold was priced at US$2,900.50 per troy ounce.
-- BERNAMA
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