Bursa Malaysia's Gold Futures Slip, Mirroring Global Retreats
KUALA LUMPUR, Feb 21 (Bernama) -- Gold futures on Bursa Malaysia Derivatives closed lower, mirroring the global gold markets’ retreat from a new all-time high of US$2,955 per ounce yesterday.
Despite the downtrend, global gold prices are set to record their eighth consecutive weekly gain, supported by continued demand for safe-haven induced by the trade war concerns.
At home, spot-month February 2025 contract declined to US$2,926.40 per troy ounce from US$2,954.30 on Thursday, while the March 2025 contract decreased to US$2,933.30 from US$2,961.20 per troy ounce previously.
Similarly, April, May and June 2025 contracts depreciated to US$2,943.50 per troy ounce from Thursday’s US$2,971.40.
Trading volume, however, rose to 62 lots from 54 lots yesterday, while open interest narrowed slightly to 106 contracts from 109 contracts previously.
According to the London Bullion Market Association’s afternoon fix on Feb 20, physical gold was priced at US$2,932.05 per troy ounce.
-- BERNAMA