Gold Futures Extend Losses As Stronger Greenback Weighs On Market
KUALA LUMPUR, Feb 27 (Bernama) -- Gold futures on Bursa Malaysia Derivatives fell again on Thursday as the US dollar strengthened due to Donald Trump’s threat to increase trade tariffs.
On Tuesday, Trump indicated that the United States government is set to impose a 25 per cent tariff on Canada and Mexico next month.
The spot-month February 2025 contract slipped to US$2,891.80 per troy ounce from US$2,917.20 on Wednesday, while the March 2025 contract decreased to US$2,896.90 from US$2,922.30 previously.
The April, May and June 2025 contracts all fell to US$2,909.60 per troy ounce from Wednesday’s US$2,935.0.
Trading volume rose to 94 lots from 64 lots yesterday, while open interest widened to 128 contracts from 95 contracts previously.
According to the London Bullion Market Association’s afternoon fix on Feb 26, physical gold was priced at US$2,901.0 per troy ounce.
-- BERNAMA