Gold Futures End Lower Amid Firmer Demand For US Dollar
KUALA LUMPUR, April 13 (Bernama) -- Gold futures on Bursa Malaysia Derivatives closed lower today due to stronger US dollar and shifting investor positioning amid geopolitical uncertainties in West Asia.
The greenback strengthened on firmer demand as markets reacted to ongoing tensions in the region following reports of stalled US-Iran negotiations over the weekend.
Reports said US-Iran negotiations failed to reach an agreement on Sunday after hours of talks in Pakistan’s capital Islamabad, prompting US President Donald Trump to announce a blockade of the Strait of Hormuz. The blockade is scheduled to be implemented at 10 pm tonight (Malaysian time).
At the time of writing, Brent crude oil price rose 7.18 per cent to US$102.04 per barrel. (US$1 = RM3.97)
At the close, the spot-month April 2026 contract fell to US$4,738.40 per troy ounce from US$4,768.20 per troy ounce at last Friday’s close, and the May 2026 contract slid to US$4,756.90 per troy ounce from US$4,788.70 per troy ounce previously.
The June, July, and August 2026 contracts also finished lower at US$4,775.40 per troy ounce, down from US$4,807.30 per troy ounce at the end of last week.
Trading volume decreased to eight lots from 29 lots on Friday, while open interest slipped to 78 contracts from 95 contracts previously.
Physical gold was fixed at US$4,773.75 per troy ounce at the London Bullion Market Association afternoon fix on April 10, 2026.
-- BERNAMA