Gold Futures Ends Higher On Trade War Concerns
By Danni Haizal Danial Donald
KUALA LUMPUR, March 13 (Bernama) -- Gold futures on Bursa Malaysia Derivatives ended higher on Thursday as gold prices pushed higher due to trade war concerns ramping up ahead of the United States reciprocal tariff deadline in early April, said an analyst.
SPI Asset Management managing partner Stephen Innes said as the global markets fluctuate amid shifting dynamics, gold is holding firm, offering a rare safe haven in an increasingly unstable landscape.
“The metal continues to prove its value as a reliable hedge, attracting buyers regardless of whether the focus is on escalating trade tensions, inflation risks, stagflation fears, or a potential recession.
“With uncertainty at its peak and policymakers facing complex economic risks, investors are turning to gold as a defensive anchor,” he told Bernama.
The spot-month March 2025 contract surged to US$2,951.20 per troy ounce from US$2,924.50 on Wednesday, while April 2025 also increased to US$2,961.50 from US$2,935.40.
May 2025, June 2025, and August 2025 all advanced to US$2,971.50 per troy ounce from US$2,945.40 per troy ounce on Wednesday.
The trading volume rose to 281 lots from 187 lots, while open interest edged higher to 351 contracts from 217 contracts.
According to the London Bullion Market Association’s afternoon fix on March 12, physical gold was priced at US$2,924.80 per troy ounce.
-- BERNAMA