Fed Rate Cut Impact Propels Gold Futures To Close Higher

KUALA LUMPUR, Sept 23 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives closed higher on Monday, supported by the ongoing impact of the United States Federal Reserve’s (Fed) rate cut.

The September 2024 gold futures contract rose to US$2,624.50 per troy ounce, up from US$2,614.20 last Friday.

Meanwhile, the October, November, December 2024, February 2025 and April 2025 contracts all settled higher at US$2,637.30 per troy ounce, compared with US$2,627.00 per troy ounce previously.

Trading volume rose to 13 lots from 12 lots last week, while open interest rose to 45 contracts from 44 contracts.

According to the London Bullion Market Association’s afternoon fix on September 20, the price of physical stood at US$2,605.85 per troy ounce.

-- BERNAMA