US Tariff Threats Boost Gold Futures

By Harizah Hanim Mohamed

KUALA LUMPUR, July 14 (Bernama) -- The gold futures contracts on Bursa Malaysia Derivatives ended higher as concerns over the United States' (US) tariff threats lifted the precious metal’s price.

SPI Asset Management managing partner Stephen Innes said gold had a topside range-breaking session, driven by a double-barreled catalyst, namely the escalation of the US’ tariff threats against the European Union and a fresh assault on the US Federal Reserve's (Fed) independence.

“With Donald Trump openly angling to replace Fed chair, Powell, markets are waking up to the possibility of a more politically compliant central bank,  one that will cut rates quicker, which could erode the dollar’s credibility over time,” he told Bernama.

He also said that the whiff of policy-driven currency debasement is enough to stir real gold demand today, especially with appetite already elevated due to trade risk.

“In this environment, gold isn’t just a hedge, it’s a vote against monetary compromise,” he added.

The spot-month July 2025 contract rose to US$3,377.70 per troy ounce from US$3,346.20 per troy ounce last Friday.

The August 2025 contract climbed to US$3,394.90 from US$3,362.70 last week, and the September 2025 contract advanced to US$3,418.0 from US$3,377.60 previously.

The October 2025, December 2025 and February 2026 contracts each settled higher at US$3,430.40, up from US$3,397.50.

Trading volume jumped to 37 lots from 28 lots last Friday, while open interest inched up to 78 contracts from 72 contracts previously.

Physical gold was priced at US$3,352.10 per troy ounce, based on the London Bullion Market Association’s afternoon fix on July 11, 2025.

-- BERNAMA