Gold Futures End Higher On Bargain Hunting

By Fatin Umairah Abdul Hamid

KUALA LUMPUR, Feb 4 (Bernama) -- Gold futures on Bursa Malaysia Derivatives closed higher on Wednesday, tracking gains in US COMEX gold futures as bargain hunting emerged following last week’s sharp sell-off from record highs, said an economist.

IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan noted that the rebound was further supported by a softer US dollar and improving global risk sentiment.

He said the latest price movements underscore gold’s role as a portfolio stabiliser for Malaysian investors rather than a short-term trading instrument, with price volatility expected to persist despite supportive longer-term fundamentals.

“Nonetheless, underlying demand remains intact, supported by geopolitical tensions including renewed US–Iran strains, ongoing central bank buying and global policy uncertainty,” he told Bernama.

At the close, the spot month February 2026 contract rose to US$5,110.0 per troy ounce from US$4,908.6, March 2026 climbed to US$5,127.5 per troy ounce from US$4,926.1, and April 2026 advanced to US$5,144.3 per troy ounce from US$4,942.9 on Tuesday.

The May, June and August 2026 contracts also strengthened, settling at US$5,144.3 per troy ounce compared with US$4,942.9 yesterday.

Trading volume eased to 14 lots from 48 lots yesterday, while open interest decreased to 111 contracts from 139 contracts previously.

The price of physical gold was fixed at US$4,920.95 per troy ounce at the London Bullion Market Association afternoon fix on Feb 3, 2026. 

-- BERNAMA