logo
Gold Futures End Lower Amid Positive US-China Developments

Gold Futures End Lower Amid Positive US-China Developments

Barnama06-06-2025
By Danni Haizal Danial Donald
KUALA LUMPUR, June 6 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives ended lower today, as the gold market eased slightly following a promising phone call between United States President Donald Trump and Chinese President Xi Jinping, said an analyst.
The call, which signalled improving diplomatic engagement between the world's two largest economies, helped calm investor nerves over potential trade and geopolitical tensions.
According to SPI Asset Management managing partner Stephen Innes, the development reduced demand for safe-haven assets such as gold, contributing to the price easing.
'The Trump-Xi call has reduced safe-haven demand for US assets, keeping gold within a tighter trading range.
'Additionally, despite the positive tone of the Trump-Xi conversation, the precious metal remains closely tied to the movement of the US dollar, with traders hoping that an earlier-than-expected US Federal Reserve rate cut will weaken the greenback,' he told Bernama.
The spot-month June 2025 contract fell to US$3,371.80 per troy ounce from US$3,400.90 yesterday, while the July 2025 contract dropped to US$3,380.30 from US$3,409.40.
The August, September and October 2025 contracts decreased to US$3,393.80 per troy ounce from US$3,422.90 yesterday.
Trading volume increased to 109 lots from 38 lots on Thursday, while open interest rose to 122 contracts from 62 contracts.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Malaysia's new ambassador to US pledges stronger bilateral relations
Malaysia's new ambassador to US pledges stronger bilateral relations

The Star

time7 minutes ago

  • The Star

Malaysia's new ambassador to US pledges stronger bilateral relations

Photo courtesy of Bernama KUALA LUMPUR: Malaysia's new Ambassador to the United States, Tan Sri Muhammad Shahrul Ikram Yaakob, reaffirmed his commitment to further strengthening the Malaysia-US bilateral relationship during a credentials ceremony with President Donald J. Trump at the White House. In a Facebook post on Saturday, the Embassy of Malaysia in Washington, D.C. stated that Muhammad Shahrul Ikram presented his Letter of Credence to Trump during the Presentation of Credentials Ceremony at the White House on July 24. The ceremony officially marked him as the 18th Ambassador Extraordinary and Plenipotentiary of Malaysia to the United States. "During the ceremony, Muhammad Shahrul Ikram had the opportunity to briefly exchange warm pleasantries with Trump, conveying his commitment to further strengthen the Malaysia-United States bilateral relationship. "He also thanked the President for Secretary of State Marco Rubio's participation in the recent 48th ASEAN Foreign Ministers' Meeting and Related Meetings, held in Kuala Lumpur from July 8 to 11, which further reaffirmed the US's commitment to the region as well as the deepening of the Malaysia-US Comprehensive Partnership,' the embassy stated. Over the past six decades since 1957, Malaysia-US's ties have grown into a multifaceted partnership encompassing political, economic, defence and security, educational, and people-to-people cooperation. Muhammad Shahrul Ikram is a former secretary-general of the Foreign Ministry and a veteran diplomat with over 35 years of service. Born in Pahang, Muhammad Shahrul Ikram holds a Bachelor of Science (Honours) in Ecology from Universiti Malaya and completed the Advanced Management Programme at Harvard Business School in 2009. He began his career at the Foreign Ministry in 1988 as an Administrative and Diplomatic Officer. During his career in the public service, Muhammad Shahrul Ikram also served as Malaysia's Ambassador to Qatar and Austria, as well as Permanent Representative to the United Nations in New York. His previous diplomatic assignments included stints at Malaysia's diplomatic missions in Vienna, Washington, D.C., and Beijing. He also held the positions of Deputy Secretary General of Bilateral Affairs, Director General of Asean-Malaysia National Secretariat (during Malaysia's Chairmanship of Asean in 2015) and Undersecretary of Multilateral Political Division. - Bernama

Malaysia's new US ambassador pledges stronger bilateral ties
Malaysia's new US ambassador pledges stronger bilateral ties

The Sun

time7 minutes ago

  • The Sun

Malaysia's new US ambassador pledges stronger bilateral ties

KUALA LUMPUR: Malaysia's new Ambassador to the United States, Tan Sri Muhammad Shahrul Ikram Yaakob, has reaffirmed his commitment to enhancing Malaysia-US relations during a credentials ceremony with President Donald J. Trump at the White House. The Embassy of Malaysia in Washington, D.C., confirmed in a Facebook post that Muhammad Shahrul Ikram presented his Letter of Credence to Trump on July 24, officially marking his appointment as Malaysia's 18th Ambassador to the US. During the ceremony, Muhammad Shahrul Ikram briefly exchanged pleasantries with Trump, expressing his dedication to deepening bilateral ties. He also thanked the US President for Secretary of State Marco Rubio's participation in the recent 48th ASEAN Foreign Ministers' Meeting held in Kuala Lumpur, which reinforced US engagement in the region. Malaysia-US relations have evolved over six decades into a broad partnership covering political, economic, defence, security, and educational cooperation. Muhammad Shahrul Ikram, a seasoned diplomat with over 35 years of service, previously served as Secretary-General of the Foreign Ministry. He holds a Bachelor of Science in Ecology from Universiti Malaya and completed Harvard Business School's Advanced Management Programme in 2009. His diplomatic career includes postings in Qatar, Austria, and as Malaysia's Permanent Representative to the UN in New York. He has also served in diplomatic missions in Vienna, Washington, D.C., and Beijing. - Bernama

Thousands of men shared non-consensual intimate photos on Telegram: Chinese media
Thousands of men shared non-consensual intimate photos on Telegram: Chinese media

The Star

time37 minutes ago

  • The Star

Thousands of men shared non-consensual intimate photos on Telegram: Chinese media

BEIJING: Thousands of men allegedly shared intimate photos and videos of their girlfriends without consent on the Telegram messaging app, Chinese media reported, sparking widespread outcry against secret filming and calls to better protect women. Pornography in China is illegal, and conservative social attitudes towards women remain the norm, often reinforced by state media and popular culture. It comes after a Chinese university expelled a female student this month for "damaging national dignity" over videos posted by a Ukrainian esports player on Telegram suggesting they had been intimate. The Chinese state-owned Southern Daily reported this week a woman had discovered that photos of her taken unknowingly had been shared in a Telegram forum with over 100,000 users, mostly Chinese men. Members of the forum also shared photos of their girlfriends, ex-girlfriends and wives, according to a commentary in the Guangming Daily, an outlet backed by China's ruling communist party. Revelations of the group have sparked widespread outcry online. "We are not...'content' that can be randomly uploaded, viewed and fantasised about," read one comment on Instagram-like Red Note. "We can no longer remain silent. Because next could be me, or it could be you." A related hashtag has been viewed more than 230 million times on social media platform Weibo since Thursday. The largest group, called "Mask Park", has since been taken down, but smaller spinoffs remain active, according to women contacted by Southern Daily. Telegram encrypts its users' messages and is banned in China, but it is accessible using a virtual private network. AFP has contacted Telegram for comment. The incident has drawn comparisons to a case in South Korea dubbed "Nth Room", in which a man blackmailed dozens of women into taking sexually explicit videos and sold them on Telegram. Chinese women have taken to social media to detail their own experiences being filmed and photographed by men in public. "What criminals consider 'regular' for them may be nightmares that countless women can't escape for the rest of their lives," one woman said, sharing an encounter on Douyin. Chinese police have cracked down on illegal filming, arresting hundreds of people in 2022 over clandestine surveillance activities. But women's rights are sensitive territory in China - over the last decade, authorities have suppressed almost every form of independent feminist activism. #MeToo activist Sophia Huang Xueqin was sentenced to five years in prison on charges of "inciting subversion of state power" after she became a symbol of the country's stalled feminist movement. Chinese authorities have yet to publicly announce any action against the Telegram group. But the Guangming Daily commentary urged "accountability" for the organisers of the Telegram group, and empathy for the people filmed. Improving law enforcement would "enhance the overall sense of security, free women from the fear of being spied on and make privacy boundaries a truly untouchable red line", it said. - AFP

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store