Kuala lumpur: Gold futures on Bursa Malaysia Derivatives closed higher on Wednesday, tracking gains in US COMEX gold futures as bargain hunting emerged following last week's sharp sell-off from record highs, said an economist. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan noted that the rebound was further supported by a softer US dollar and improving global risk sentiment.

According to BERNAMA News Agency, the latest price movements underscore gold's role as a portfolio stabiliser for Malaysian investors rather than a short-term trading instrument, with price volatility expected to persist despite supportive longer-term fundamentals. Mohd Sedek Jantan highlighted that the underlying demand remains intact, supported by geopolitical tensions including renewed US-Iran strains, ongoing central bank buying, and global policy uncertainty.

At the close, the spot month February 2026 contract rose to US$5,110.0 per troy ounce from US$4,908.6, March 2026 climbed to US$5,127.5 per troy ounce from US$4,926.1, and April 2026 advanced to US$5,144.3 per troy ounce from US$4,942.9 on Tuesday. The May, June, and August 2026 contracts also strengthened, settling at US$5,144.3 per troy ounce compared with US$4,942.9 yesterday.

Trading volume eased to 14 lots from 48 lots yesterday, while open interest decreased to 111 contracts from 139 contracts previously.