Gold Futures End Higher Amid Subtle Global Demand Shifts

By Harizah Hanim Mohamed

KUALA LUMPUR, July 18 (Bernama) -- Gold futures contracts on Bursa Malaysia Derivatives ended higher on Friday, supported by subtle shifts in global demand.

SPI Asset Management managing partner Stephen Innes said that US stocks stayed strong, driven by top performers and artificial intelligence hype, rather than broad economic confidence, while bond markets indicated that long‑standing assumptions were beginning to break down.

"However, there is the steady hum of central bank demand for gold. China just added to its gold reserves for the eighth consecutive month—an unmissable signal that official buyers are still accumulating, regardless of daily noise. This helped support the gold prices," he told Bernama.

At the close, the spot-month July 2025 contract rose to US$3,360.0 per troy ounce from US$3,337.50 per troy ounce.

The August 2025 contract increased to US$3,378.3 per troy ounce from US$3,355.70, while the September 2025 contract improved to US$3,384.20 per troy ounce from US$3,361.60 previously.

The October 2025, December 2025, and February 2026 contracts all settled better at US$3,413.40 per troy ounce from US$3,390.80 per troy ounce yesterday.

Trading volume slipped to 12 lots from 57 lots, while open interest declined to 67 contracts from 133 contracts previously.

Physical gold was priced at US$3,318.50 per troy ounce, based on the London Bullion Market Association’s afternoon fix on July 17, 2025.

-- BERNAMA