Kuala Lumpur: The gold futures contract on Bursa Malaysia Derivatives closed marginally higher today, following gains on COMEX, as traders cautiously monitor the tariff situation, said an analyst.

According to BERNAMA News Agency, SPI Asset Management managing director Stephen Innes noted that gold seems to be weighed down by overbought conditions, with investors pausing to see whether the market is heading for a tariff concession or awaiting the next escalation. Innes highlighted that gold is in a holding pattern, waiting for Washington’s next move. While the US dollar appears lower in the longer term, traders are seeking concrete policy signals rather than mere headline noise.

At today’s close, the spot month April 2025 contract inched up to US$3,237.10 per troy ounce from US$3,233.40 per troy ounce on Monday. Similarly, May 2025 edged higher to US$3,247.50 per troy ounce against US$3,243.80 per troy ounce previously. June 2025, July 2025, and August 2025 contracts climbed to US$3,261.60 per troy ounce from US$3,256.30 per troy ounce before.

Trading volume saw an increase, rising to 730 lots from 330 lots on Monday, while open interest also grew to 754 contracts from 364 contracts. Meanwhile, the London Bullion Market Association’s afternoon fix on April 14 priced physical gold at US$3,204.20 per troy ounce.