By Durratul Ain Ahmad Fuad
KUALA LUMPUR, May 22 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives ended lower today as geopolitical nerves ease and global markets regain their footing.
SPI Asset Management managing partner Stephen Innes said that with both risk assets and bond markets stabilising through the Asia and London sessions, demand for traditional safe havens like gold has cooled slightly.
“Still, the yellow metal remains underpinned by structural concerns, particularly the mounting US fiscal deficit, which continues to cast a long shadow over long-term dollar confidence,” he told Bernama.
Spot month May 2025 contract was lower to US$3,310.80 per troy ounce from US$3,317.20 per troy ounce yesterday, while the June 2025 contract went down to US$3,323.80 per troy ounce from US$3,330.20 per troy ounce.
The July, August, and October 2025 contracts fell to US$3,337.50 per troy ounce from US$3,343.90 per troy ounce previously.
Trading volume decreased to 559 lots from 665 lots on Wednesday, while open interest slid to 597 contracts from 698 contracts yesterday.
Physical gold was priced at US$3,299.65 per troy ounce, according to the London Bullion Market Association’s afternoon fix on May 21.
-- BERNAMA
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