Kuala lumpur: The gold futures contract on Bursa Malaysia Derivatives ended higher on Thursday, driven by increased demand from investors seeking refuge in the precious metal, said an analyst.

According to BERNAMA News Agency, Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid indicated that prices were also supported by China’s central bank increasing its gold holdings by 60,000 troy ounces in July, bringing the total to 73.96 million troy ounces. This development suggests that gold is increasingly being sought after as a safe-haven asset amid uncertainty surrounding United States tariffs.

At the close, the spot-month August 2025 contract rose to US$3,410.50 per troy ounce from US$3,381.50 at Wednesday’s close. The September 2025 contract improved to US$3,416.20 per troy ounce from US$3,387.00 yesterday. The October 2025 contract inched up to US$3,444.90 per troy ounce from US$3,415.70 previously, and the November 2025 contract advanced to US$3,462.30 per troy ounce from US$3,433.10.

Meanwhile, the December 2025, February 2026, and April 2026 contracts also settled higher at US$3,480.20 per troy ounce compared with US$3,451.00 yesterday. Trading volume eased to 24 lots from 25 lots yesterday, while open interest edged up to 51 contracts from 50 previously. Physical gold was priced at US$3,372.00 per troy ounce based on the London Bullion Market Association’s afternoon fix on Aug 6, 2025.