Gold Futures Rebound At Close Amid Middle East Tensions

By Engku Shariful Azni Engku Ab Latif

KUALA LUMPUR, June 23 (Bernama) -- Gold futures contracts on Bursa Malaysia Derivatives rebounded to close higher on Monday, driven by the escalation in geopolitical tensions as the United States (US) bombed Iran’s nuclear facilities on Sunday, an analyst said.

SPI Asset Management managing partner Stephen Innes said that despite a firmer US dollar against the ringgit, gold rallied as markets rapidly repriced geopolitical risk, pushing the safe haven back into focus. 

“The move reflects heightened investor demand for security amid concerns over potential retaliation and broader instability in the Middle East,” he told Bernama today.

The spot-month June 2025 contract inched up to US$3,368.6 per troy ounce from Friday’s US$3,360.0 per troy ounce, while the July 2025 note increased to US$3,381.5 per troy ounce from US$3,366.5 per troy ounce previously. 

The August, September, and October 2025 contracts each climbed to US$3,397.5 per troy ounce from US$3,3388.6 per troy ounce last Friday.

Trading volume surged to 38 lots versus eight lots on Friday’s close, while open interest advanced to 59 contracts from 31 contracts previously. 

Physical gold was priced at US$3,368.25 per troy ounce, according to the London Bullion Market Association’s afternoon fix on June 20, 2025.

-- BERNAMA