KUALA LUMPUR: The gold futures contract on Bursa Malaysia Derivatives closed slightly higher today ahead of US non-farm payrolls data tomorrow that could influence the interest rate trajectory in the United States. The spot-month contract for December 2024, as well as the January 2025 note, were marginally higher at US$2,656.90 per troy ounce, while February 2025, March 2025, and April 2025 all settled at US$2,680.60.

According to BERNAMA News Agency, trading volume fell to one lot from nine lots on Wednesday while open interest dropped to 20 contracts from 64 contracts previously. The movement in the futures market was mirrored by the price of physical gold, which, as per the London Bullion Market Association’s afternoon fix on Dec 4, stood at US$2,648.65 per troy ounce.

The anticipation surrounding the US non-farm payrolls data is significant as it may impact the Federal Reserve’s decisions on interest rates. A stronger payroll report could lead to expectations of rate hikes, which might affect gold pric
es. Market participants are closely monitoring these developments, which are crucial in predicting future market trends.