Gold Futures Close Higher On Growing Concerns Over Trump's Tariff Plans

By Zufazlin Baharuddin

KUALA LUMPUR, Feb 14 (Bernama) -- Gold futures on Bursa Malaysia Derivatives closed higher today on growing concerns over US President Donald Trump's tariff plans.

SPI Asset Management managing partner Stephen Innes noted that Trump has ordered a list of reciprocal tariffs to be drawn up, with implementation likely in April. “While broader risk markets are breathing a sigh of relief over the delay in reciprocal tariffs, gold investors aren’t buying it as a sign of de-escalation,” he told Bernama.

He said investors will likely stay on the safe-haven metal as they hedge against the unpredictability of global trade policy.

The spot-month February 2025 contract rose to US$2,932.20 per troy ounce from US$2,913.60 on Thursday, while the March 2025 contract went up to US$2,939.30 from US$2,920.70 previously.  

The April 2025, May 2025 and June 2025 contracts were all higher at US$2,946.70 per troy ounce compared with Thursday’s close of US$2,929.

Trading volume narrowed to 48 lots from 56 lots on Thursday, while open interest inched down to 104 contracts from 109 contracts previously.    

According to the London Bullion Market Association’s afternoon fix on February 13, the price of physical gold stood at US$2,915.30 per troy ounce. 

-- BERNAMA