Gold Futures Extend Gains, Close Higher

KUALA LUMPUR, Jan 8 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives extended yesterday’s gains to close higher today, as traders awaited a key US jobs report later this week that could influence the Federal Reserve’s interest rate trajectory.

The spot-month January 2025 contract rose to US$2,666.90 per troy ounce, up from US$2,655.10 on Tuesday, while February 2025 contract advanced to US$2,678.00, compared with US$2,666.20 yesterday.

The March 2025, April 2025, and June 2025 contracts also closed higher at US$2,686.90 per troy ounce, from US$2,675.00 previously.

Trading volume slipped to three lots from 25 lots on Tuesday, while open interest remained unchanged at 14 contracts.

According to the London Bullion Market Association’s afternoon fix on January 7, physical gold was US$2,650.85 per troy ounce.

-- BERNAMA