Gold Futures Rise AS Investors Stockpile Amid Trump's New Trade Tariffs

KUALA LUMPUR, Feb 3 (Bernama) -- Gold futures on Bursa Malaysia Derivatives rose today as investors increased their stockpiles of commodities due to concerns over Donald Trump's new trade tariffs.

The spot-month January 2025 contract rose to US$2,794.0 per troy ounce from Friday’s close of US$2,791.50 per troy ounce.

The February 2025 contract also went up to US$2,802.50 per troy ounce from US$2,754.10 per troy ounce. 

The March 2025, April 2025, and June 2025 contracts held steady at US$2,815.10 per troy ounce, up from US$2,762.60 per troy ounce last Friday.

Trading volume jumped to 53 lots from zero lots last Friday, while open interest surged to 78 contracts from 25 contracts previously.

According to the London Bullion Market Association’s afternoon fix on Jan 31, the price of physical gold stood at US$2,812.05 per troy ounce.

-- BERNAMA