KUALA LUMPUR, The gold futures contract on Bursa Malaysia Derivatives closed higher on Tuesday due to heightened demand, driven by investors’ hopes of further rate cuts by the United States Federal Reserve and economic stimulus measures from China.
The September 2024 gold futures contract rose to US$2,632.70 per troy ounce, up from US$2,624.50 on Monday.
Meanwhile, the October 2024, November 2024, December 2024, February 2025 and April 2025 contracts all settled higher at US$2,645.70 per troy ounce, compared with US$2,637.30 per troy ounce previously.
Trading volume fell to eight lots from 13 lots yesterday, while open interest rose to 49 contracts from 45 contracts previously.
According to the London Bullion Market Association’s afternoon fix on September 23, the price of physical stood at US$2,629.95 per troy ounce.
Source: BERNAMA News Agency