By Danni Haizal Danial Donald
KUALA LUMPUR, April 18 (Bernama) — The gold futures contract on Bursa Malaysia Derivatives ended mostly lower on Friday, tracking losses on COMEX, as the commodity weakened after the United States (US) bond market stabilised, said an analyst.
SPI Asset Management managing director Stephen Innes said the bullion hit record highs but softened heading into the weekend as the US bond market recovered.
“With real yields stabilising, gold now has competition again. We may see the yellow metal’s upward momentum may begin to fade unless a new systemic risk or unexpected geopolitical event reignites demand,” he told Bernama.
At today’s close, the spot month April 2025 contract rose to US$3,305.20 per troy ounce from US$3,329.90 per troy ounce on Thursday, while the May 2025 contract fell to US$3,315.60 per troy ounce from US$3,340.30 per troy ounce yesterday.
June 2025, July 2025, and August 2025 contracts all decreased to US$3,330.30 per troy ounce from US$3,355.00 per troy ounce previously.
Trading volume fell to 142 lots from 411 lots on Thursday, while open interest dropped to 175 contracts from 455 contracts previously.
According to the London Bullion Market Association’s afternoon fix on April 17, physical gold was priced at US$3,305.65 per troy ounce.
— BERNAMA
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