Kuala lumpur: The gold futures contract on Bursa Malaysia Derivatives closed higher today, driven by a softer US dollar amidst the ongoing global trade tension.

According to BERNAMA News Agency, a trader mentioned that the greenback slipped following the United States government’s announcement of a 50 per cent tariff on copper starting August 1. This development has pushed investors towards gold as a safe-haven asset to mitigate expected volatility in the global market.

The spot-month July 2025 contract rose to US$3,338.20 per troy ounce from US$3,299.40 on Wednesday. The August 2025 contract increased to US$3,353.60 per troy ounce from US$3,314.80 the previous day, and the September 2025 contract improved to US$3,368.50 per troy ounce against US$3,329.70 previously.

Further gains were seen in the October 2025, December 2025, and February 2026 contracts, each advancing to US$3,387.50 per troy ounce compared to Wednesday’s close of US$3,348.50.

Despite the rise in futures prices, trading volume slipped to 17 lots from 42 lots the previous day, with open interest decreasing to 59 contracts against 68 contracts previously.

Physical gold was priced at US$3,300.15 per troy ounce, according to the London Bullion Market Association’s afternoon fix on July 9, 2025.