Gold Futures Close Higher Amid Lower Oil Prices

By K. Naveen Prabu

KUALA LUMPUR, June 15 (Bernama) -- Gold futures on Bursa Malaysia Derivatives closed higher on Monday, supported by lower oil prices.

SPI Asset Management managing partner Stephen Innes said sentiment was also supported by softer US Treasury yields and a weaker US dollar, which enhanced the appeal of gold.

He said the rise appeared counterintuitive at first, as prospects of a peace deal in West Asia would normally reduce gold's attractiveness as a safe-haven asset.

However, Innes said, the market was responding more to the impact of lower oil prices on inflation expectations, bond yields and the US dollar.

“A potential West Asia peace deal should reduce the geopolitical risk premium. But the stronger transmission is coming through oil, yields and the dollar,” he told Bernama. 

At the close, the spot-month June 2026 contract rose to US$4,348.40 per troy ounce from US$4,232.70 per troy ounce at Friday's close, while the July 2026 contract increased to US$4,360.40 per troy ounce from US$4,249.30 and the August 2026 contract advanced to US$4,381.60 per troy ounce from US$4,265.70.

The September 2026 contract stood at US$4,386.10 per troy ounce, while the October 2026 and December 2026 contracts were both pegged at US$4,405.20 per troy ounce.

Trading volume decreased to 17 lots from 22 lots on Friday, while open interest went down to 84 contracts from 89 contracts previously.

Meanwhile, physical gold was fixed at US$4,185.95 per troy ounce at the London Bullion Market Association (LBMA) afternoon fix on June 12, 2026.

-- BERNAMA