Gold Futures End Mostly Higher Amid Tariff Escalation Fears
By Danni Haizal Danial Donald
KUALA LUMPUR, June 4 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives ended mostly higher on Wednesday amid tariff escalation fears following the outcome of the United States (US) President Donald Trump and China President Xi Jinping expected meeting, said an analyst.
SPI Asset Management managing partner Stephen Innes said should the talks break down, it would reignite fears of escalating tariffs, which would be supportive towards gold prices.
“However, a positive outcome from the meeting would limit gold’s gains in the near term, reflecting a shift towards riskier assets and higher US interest rates.
The new spot-month June 2025 contract rose to US$3,377.70 per troy ounce from US$3,372.90 per troy ounce on Tuesday, while the July 2025 contract decreased to US$3,379.50 per troy ounce from US$3,386.60 per troy ounce previously.
The August, September and October 2025 contracts climbed to US$3,403.10 per troy ounce from US$3,397.80 per troy ounce previously.
Trading volume rose to 62 lots from 32 lots on Tuesday, while open interest grew to 77 contracts from 55 contracts previously.
Physical gold was priced at US$3,334.75 per troy ounce, according to the London Bullion Market Association’s afternoon fix on June 3.
-- BERNAMA