Gold Futures Close Higher

KUALA LUMPUR, Jan 16 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives closed higher on Thursday, amid a softer-than-expected US Consumer Price Index (CPI) report, which has fuelled expectations among traders for potential interest rate cuts.

Spot month January 2025 contract rose to US$2,708.90 per troy ounce from Wednesday’s US$2,692.30 per troy ounce, while February 2025 went up to US$2,717.40 per troy ounce from US$2,701.50 per troy ounce yesterday.  

March 2025, April 2025, and June 2025 contracts all closed higher at US$2,725.50 per troy ounce from US$2,710.20 per troy ounce.   

Trading volume increased to 57 lots from 47 lots on Wednesday, while open interest expanded to 86 contracts from 69 contracts yesterday. 

According to the London Bullion Market Association’s afternoon fix on Jan 15, the physical gold price stood at US$2,677.70 per troy ounce.

-- BERNAMA