Gold Futures Close Mixed Amid Uncertain Market Outlook

By Zarul Effendi Razali

KUALA LUMPUR, Dec 6 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives closed mixed today, mirroring the global gold futures market performance as traders remained uncertain over the market outlook.

SPI Asset Management managing director Stephen Innes said gold continued to hover within a narrow band as traders awaited the upcoming United States (US) non-farm payrolls report.

“A weaker-than-expected jobs print could rekindle hopes for a January US Federal Reserve rate cut, potentially giving gold a much-needed boost,” he told Bernama. 

The spot-month December 2024 contract was marginally lower at US$2,653.80 per troy ounce and January 2025 rose to US$2,666.0 per troy ounce, while February 2025, March 2025 and April 2025 all settled at US$2,678.10.

Trading volume grew to five lots from one lot on Thursday while open interest widened to 23 contracts from 20 contracts previously.

According to the London Bullion Market Association’s afternoon fix on Dec 5, the price of physical gold stood at US$2,640.15 per troy ounce.

-- BERNAMA