Gold Futures Close Higher

KUALA LUMPUR, Sept 19 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives closed higher amid ongoing concerns over economic slowdowns in the United States and China.

Analysts noted that the US Federal Reserve’s decision to cut interest rates by 50 basis points on Wednesday—the first reduction in four years—has positively influenced gold prices.

Locally, the September 2024 gold futures contract rose to US$2,614.20 per troy ounce, up from US$2,597.60 on Thursday.

Meanwhile, the October, November, December 2024, February 2025 and April 2025 contracts all settled higher at US$2,627.00 per troy ounce, compared with US$2,610.40 per troy ounce previously.

Trading volume decreased to 12 lots from 32 lots on Thursday, while open interest fell to 44 contracts from 64 contracts.

According to the London Bullion Market Association’s afternoon fix on Sept 19, the price of physical gold was US$2,575.35 per troy ounce.

-- BERNAMA