Gold Futures End Lower Amid Positive US-China Developments
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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Barnama
an hour ago
- Barnama
UMNO Must Lead Digital Narrative, Reach Youth To Stay Relevant– Zambry
KUALA LUMPUR, July 27 (Bernama) -- UMNO must lead in shaping the digital narrative, strengthen its presence on new media and engage young voters to remain relevant, UMNO Supreme Council member Datuk Seri Dr Zambry Abdul Kadir said today. He said politics has entered the digital era in which information, perceptions and sentiments are rapidly shaped through social media and online platforms. 'This new challenge requires UMNO to adopt fresher, more flexible and pragmatic approaches. We cannot remain bound by the old ways,' he said in a Facebook post.
Barnama
an hour ago
- Barnama
US Urges Ceasefire as Thai, Cambodian Leaders Head to Malaysia for Peace Talks
KUALA LUMPUR, July 27 (Bernama) -- US Secretary of State Marco Rubio has urged both Cambodia and Thailand to de-escalate tensions and agree to a ceasefire over their ongoing border dispute. According to the US Department of State Spokesperson Tammy Bruce, Rubio spoke with Cambodian Deputy Prime Minister and Foreign Minister Prak Sokhonn to stress the importance of an immediate ceasefire. "Secretary Rubio reiterated President Trump's desire for peace and the importance of an immediate ceasefire. The US is prepared to facilitate future discussions to ensure peace and stability between Thailand and Cambodia," Bruce said in a statement that was made available on the department's official website. bootstrap slideshow Bruce said Rubio conveyed a similar message to Thai Foreign Minister Maris Sangiampongsa, reaffirming Washington's readiness to facilitate dialogue and peace efforts between both countries. In the latest development, Bernama reported that the Thai government has confirmed it will attend a regional peace consultation in Malaysia on Monday to discuss the escalating border conflict with Cambodia. Government spokesperson Jirayu Huangsap said Malaysian Prime Minister Datuk Seri Anwar Ibrahim, in his capacity as the current ASEAN Chair, has invited the Thai leadership to discuss the Thai-Cambodian conflict. He added that Cambodian Prime Minister Hun Manet will also attend the consultation at the invitation of the ASEAN Chair. The Thai delegation is scheduled to depart from the Royal Thai Air Force base at approximately 10.30 am, with the meeting set for 3 pm (Malaysian time). The border dispute between the two nations escalated on July 25, leading to armed clashes along Cambodia's northern border region.
Barnama
an hour ago
- Barnama
Nurul Izzah Calls On Bangladesh Interim Government Chief
WORLD By Shakir Husain NEW DELHI, July 27 (Bernama) -- Parti Keadilan Rakyat (PKR) deputy president Nurul Izzah Anwar called on Bangladesh interim leader Muhammad Yunus in Dhaka on Sunday. Yunus, during the meeting, sought Malaysia's support for Bangladesh to join the Association of Southeast Asian Nations (ASEAN). "We want to become a part of ASEAN, and we will need your support," he told Nurul Izzah, according to a Bangladesh Sangbad Sangstha report. Bangladesh applied to become an ASEAN sectoral dialogue partner in 2020. Yunus also invited Malaysian companies to invest in Bangladesh's growing economy. "Asia is ageing rapidly, but Bangladesh has a lot of young people. Half of our population is under the age of 27. Set up your industries here and export from Bangladesh. It will help both our economies," he said. The interim government's chief advisor informed the PKR deputy chief about Bangladesh's political reforms following last year's uprising, which ended Sheikh Hasina's nearly 16-year rule. Nurul Izzah spoke at Dhaka University on Sunday at a conference marking the first anniversary of the July Revolution.
