Gold Futures Close Higher

KUALA LUMPUR, Oct 21 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives ended higher today, following gains in the US COMEX gold market, according to a dealer.

He noted that the US COMEX gold reached a new record high, driven by escalating tensions in the Middle East.

Spot month October 2024 rose to US$2,741.40 per troy ounce from US$2,718.00 per troy ounce last Friday, while November 2024 jumped to US$2,756.40 per troy ounce from US$2,733.00 per troy ounce previously.

Meanwhile, the December 2024, January 2025 and February 2025 contracts all settled higher at US$2,764.50 per troy ounce compared with US$2,741.10 per troy ounce previously. 

Trading volume fell to 14 lots from 22 lots on Friday, while open interest narrowed to 38 contracts from 40 contracts previously.

According to the London Bullion Market Association’s afternoon fix on Oct 18, the price of physical gold stood at US$2,712.50 per troy ounce.

-- BERNAMA