Gold Futures End Higher Amidst Ongoing Geopolitical Tensions

KUALA LUMPUR, Jan 3 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives ended higher today, driven by robust safe-haven demand amidst ongoing geopolitical tensions in the Middle East and the persistent Russia-Ukraine conflict. 

The spot month January 2025 contract rose to US$2,667.80 per troy ounce compared with US$2,633.70 on Thursday and February 2025 rose to US$2,678.90 per troy ounce compared with US$2,633.70 yesterday.

Meanwhile, March 2025, April 2025, and June 2025 all settled higher at US$2,687.30 per troy ounce from US$2,633.70 per troy ounce previously.

Trading volume climbed to 29 lots from one lot on Thursday, while open interest surged to 44 contracts from 17 contracts previously.

According to the London Bullion Market Association’s afternoon fix on Jan 2, the price of physical gold stood at US$2,646.30 per troy ounce.

-- BERNAMA