Gold Futures End Mostly Higher, Gains Capped By Easing Middle East Tensions
By Abdul Hamid A Rahman
KUALA LUMPUR, June 25 (Bernama) -- Gold futures contract on Bursa Malaysia Derivatives ended mostly higher on Wednesday, as easing geopolitical tensions in the Middle East capped gains, said SPI Asset Management managing partner Stephen Innes.
He noted that the sustained ceasefire between Israel and Iran has dampened safe-haven demand for gold.
“Investors are now turning their attention to macroeconomic indicators, particularly upcoming US economic data and the Federal Reserve’s policy outlook, which could determine gold’s next directional move,” he told Bernama.
The spot-month June 2025 contract edged up to US$3,325.30 per troy ounce from US$3,323.4 per troy ounce on Tuesday, while July 2025 decreased to US$3,328.20 from US$3,336.3 per troy ounce previously.
The August, September, and October 2025 contracts all rose marginally to US$3,354.20 per troy ounce from US$3,352.3 per troy ounce yesterday.
Trading volume declined to 34 lots versus 88 lots yesterday, while open interest tumbled to 71 contracts from 112 contracts previously.
Physical gold was priced at US$3,302.50 per troy ounce, according to the London Bullion Market Association’s afternoon fix on June 24.
-- BERNAMA