Gold Futures End Higher On Safe-haven Demand
By Fatin Umairah Abdul Hamid
KUALA LUMPUR, Aug 7 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives ended higher on Thursday, driven by increased demand from investors seeking refuge in the precious metal, said an analyst.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid told Bernama that prices were also supported by China’s central bank increasing its gold holdings by 60,000 troy ounces in July, bringing the total to 73.96 million troy ounces.
This suggests that gold is increasingly being sought after as a safe-haven asset amid uncertainty surrounding United States tariffs.
At the close, the spot-month August 2025 contract rose to US$3,410.50 per troy ounce from US$3,381.50 at Wednesday's close, September 2025 improved to US$3,416.2 per troy ounce from US$3,387.00 yesterday, October 2025 inched up to US$3,444.90 per troy ounce from US$3,415.70 previously, and November 2025 advanced to US$3,462.30 per troy ounce from US$3,433.10.
Meanwhile, the December 2025, February 2026 and April 2026 contracts also settled higher at US$3,480.20 per troy ounce compared with US$3,451.00 yesterday.
Trading volume eased to 24 lots from 25 lots yesterday, while open interest edged up to 51 contracts from 50 previously.
Physical gold was priced at US$3,372.00 per troy ounce based on the London Bullion Market Association’s afternoon fix on Aug 6, 2025.
-- BERNAMA