Gold Futures Close Higher

KUALA LUMPUR, Oct 29 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives closed higher on Tuesday, driven by escalating geopolitical tension and uncertainties surrounding the United States presidential election, said a dealer.  

Spot month October 2024 rose to US$2,758.70 per troy ounce from Monday’s US$2,731.20 per troy, while November 2024 increased to US$2,775.0 per troy ounce from US$2,747.50 per troy ounce yesterday. 

Meanwhile, December 2024, January 2025 and February 2025 contracts all settled higher at US$2,783.10 per troy ounce compared with Monday’s US$2,755.60 per troy ounce.  

Trading volume was higher to seven lots from three lots yesterday, while open interest went up to 18 contracts from 17 contracts previously.

According to the London Bullion Market Association’s afternoon fix on October 28, the price of physical gold stood at US$2,741.80 per troy ounce.

-- BERNAMA