Gold Futures Rise As India-Pakistan Conflict Escalates
By Danni Haizal Danial Donald
KUALA LUMPUR, May 7 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives ended higher on Wednesday due to trade war uncertainties and after India launched military strikes on targets in Pakistan in the wake of the recent Kashmir massacre.
“What began as a diplomatic disagreement has escalated dangerously, with reports of cross-border shelling and troop deployments heightening investor unease throughout South and Central Asia.
“The threat of open conflict, especially between two nuclear-armed nations, represents a far more serious concern,” SPI Asset Management managing partner Stephen Innes told Bernama.
At today’s close, the spot month May 2025 contract increased to US$3,387.10 per troy ounce from US$3,383.30 on Tuesday.
The June 2025, July 2025, August 2025 and October 2025 contracts rose to US$3,400.00 per troy ounce compared to US$3,394.70 previously.
The trading volume increased to 106 lots from 77 lots on Tuesday, while open interest rose to 129 contracts from 89 previously.
According to the London Bullion Market Association’s afternoon fix on May 6, physical gold was priced at US$3,391.45 per troy ounce.
-- BERNAMA