KUALA LUMPUR, Feb 3 (Bernama) -- Gold futures on Bursa Malaysia Derivatives closed lower on Tuesday, despite gains in the US COMEX gold market.
A dealer said that the announcement by US President Donald Trump appointing Kevin Warsh to replace Jerome Powell as Federal Reserve chair in May triggered a mild sell-off, further weighing on market sentiment.
At the close, the new spot month February 2026 contract dropped to US$4,908.6 per troy ounce from US$5,062.60, March 2026 fell to US$4,926.1 per troy ounce from US$5,080.90, and April 2026 declined to US$4,942.9 per troy ounce from US$5,097.70 last Friday, while the May 2026 contract stood at US$4,942.9 per troy ounce.
The June and August 2026 contracts also weakened, settling at US$4,942.9 per troy ounce compared with US$5,097.70 previously.
Trading volume fell to 48 lots from 137 lots last Friday, while open interest rose to 139 contracts from 91 contracts previously.
The price of physical gold was fixed at US$4,714.75 per troy ounce at the London Bullion Market Association afternoon fix on Feb 2, 2026.
The market was closed yesterday in conjunction with the Thaipusam and Federal Territory public holidays.
-- BERNAMA
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