By Zufazlin Baharuddin
KUALA LUMPUR, Feb 15 (Bernama) -- Gold futures on Bursa Malaysia Derivatives are expected to trade cautiously next week amidst global uncertainties.
SPI Asset Management managing partner Stephen Innes said traders will be closely monitoring developments after United States President Donald Trump initiated negotiations with Russian President Vladimir Putin to bring an end to the war in Ukraine.
Trump had also unveiled reciprocal tariff plans recently.
“Gold traders will find themselves caught between two opposing forces -- optimism over potential de-escalation in Eastern Europe which could trigger selling impulse and development on tariff plans -- to decide whether to stay on the safe-haven metal as they hedge against the unpredictability of global trade policy,” he told Bernama.
On a Friday-to-Friday basis, spot-month February 2025 contract jumped to US$2,932.20 per troy ounce from US$2,871.50 per troy ounce last week, while March 2025 contract rose to US$2,939.30 per troy ounce from US$2,882.50 previously.
The April, May and June 2025 contracts settled higher at US$2,946.70 per troy ounce from US$2,888.10 per troy ounce last week.
The volume slid to 231 lots from 238 the previous week, while open interest increased to 104 contracts from 69 last week.
According to the London Bullion Market Association’s afternoon fix on Feb 14, the price of physical gold stood at US$2,915.30 per troy ounce.
-- BERNAMA
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