LATEST NEWS   PM Anwar, Turkmenistan President Serdar Berdimuhamedov witnessed the signing of a strategic cooperation agreement between Petronas and Turkmenistan authorities-- PMO | At 6 pm, the ringgit eased to 4.1340/1395 versus the US dollar from Thursday's close of 4.1145/1195 | The collaboration opens up space for more strategic engagements in future, including exploring the great potential of Turkmenistan's natural gas sector, which has among the world's largest gas reserves - PMO | Gabungan Kelab Media Malaysia (GKMM) state affiliates receive RM10,000, GKMM receive RM30,000 from Communications Ministry - Fahmi | The achievement comes as Malaysia and Turkmenistan mark 30 years of cooperation in the energy sector, which has been a key pillar of bilateral relations between the two countries -- PMO | 
BUSINESS • 17/04/2025 08:05 PM

Gold Futures Close Higher

By Danni Haizal Danial Donald

KUALA LUMPUR, April 17 (Bernama) – The gold futures contract on Bursa Malaysia Derivatives closed higher on Thursday, although the global gold market retreated amid the United States Federal Reserve’s (Fed) hawkish stance on US bonds, an analyst said.

SPI Asset Management managing director Stephen Innes said gold has retreated from its recent highs, while the market is beginning to show signs of fatigue.

“This is likely linked to Fed chairman Jerome Powell’s hawkish tone and a return to more orderly behaviour in the bond market — with yields rising on strong equity days and falling when market sentiment weakens.

“That’s a clear contrast to last week’s fear-driven environment, when concerns over dysfunction in the US Treasury market and rumours of a buyer strike left traders questioning whether the bond market was still functioning,” he told Bernama.

At today’s close, spot month April 2025 contract rose to US$3,329.90 per troy ounce from US$3,311.60 per troy ounce on Wednesday, while the May 2025 contract increased to US$3,340.30 per troy ounce from US$3,322.00 per troy ounce yesterday.

June 2025, July 2025, and August 2025 all climbed to US$3,355.00 per troy ounce from US$3,336.70 per troy ounce previously.

Trading volume rose to 411 lots from 371 lots on Wednesday, while open interest increased to 455 contracts from 426 contracts previously. 

According to the London Bullion Market Association’s afternoon fix on April 16, physical gold was priced at US$3,322.90 per troy ounce.

-- BERNAMA

 

 

More News

Categories

Tags