Gold Futures End Higher Amid Ongoing US-China Tariff Tensions
By Danni Haizal Danial Donald
KUALA LUMPUR, May 6 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives ended higher on Tuesday amid ongoing tensions over the US-China tariffs.
The bullion rally has been fuelled by the US–China trade war, said SPI Asset Management managing partner Stephen Innes. “As uncertainty around the trade war continues and markets see just a 20 per cent chance of a deal by the end of June, gold is serving its traditional role as a safe-haven investment,” he told Bernama.
At today’s close, the spot month May 2025 contract increased to US$3,383.30 per troy ounce from US$3,315.10 on Monday. The June 2025, July 2025, August 2025 and October 2025 contracts rose to US$3,394.70 per troy ounce compared to US$3,324.50 previously.
The trading volume dropped to 77 lots from 82 lots on Monday, while open interest fell to 89 contracts from 122 previously.
According to the London Bullion Market Association’s afternoon fix on May 2, physical gold was priced at US$3,249.70 per troy ounce.
-- BERNAMA