Gold Futures End Higher In Line With US Comex, Sustained Demand

KUALA LUMPUR, Jan 28 (Bernama) -- Gold futures on Bursa Malaysia Derivatives closed higher today, tracking gains in US Comex gold futures amid sustained demand for the precious metal as a hedge against geopolitical and financial risks.

SPI Asset Management managing partner Stephen Innes said global central banks now hold more value in gold than in United States treasuries, driven not by policy announcements but by market reality.

“Since the 2022 freeze of Russian assets, many countries have quietly increased gold reserves as a response to rising political, sanctions, currency and duration risks.

“This shift is not about gold enthusiasm, but balance sheet protection, in which gold carries no default risk, no political dependency and no currency exposure,” he said in a market commentary today.

At the close, the spot month January 2026 contract rose to US$5,295.40 per troy ounce from US$5,090.30 per troy ounce, February 2026 increased to US$5,311.70 per troy ounce from US$5,106.60 per troy ounce, and March 2026 gained to US$5,330.00 per troy ounce from US$5,124.90 per troy ounce on Tuesday.

The April, June and August 2026 contracts were also higher, settling at US$5,348.10 per troy ounce compared with US$5,143.00 per troy ounce previously.

Trading volume shed to 433 lots from 518 lots yesterday, while open interest lessened to 524 contracts from 590 contracts previously.

Physical gold was fixed at US$5,088.10 per troy ounce at the London Bullion Market Association afternoon fix on Jan 27, 2026. 

-- BERNAMA