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.
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