Kuala lumpur: Gold futures on Bursa Malaysia Derivatives closed lower on Tuesday, despite gains in the US COMEX gold market.
According to BERNAMA News Agency, a dealer noted that the announcement by US President Donald Trump appointing Kevin Warsh to replace Jerome Powell as Federal Reserve chair in May led to a mild sell-off, which further impacted market sentiment.
At the close, the new spot month February 2026 contract fell to US$4,908.6 per troy ounce from US$5,062.60. The March 2026 contract decreased to US$4,926.1 per troy ounce from US$5,080.90, and the April 2026 contract declined to US$4,942.9 per troy ounce from US$5,097.70 last Friday. The May 2026 contract also stood at US$4,942.9 per troy ounce.
The June and August 2026 contracts weakened as well, both settling at US$4,942.9 per troy ounce, compared to US$5,097.70 previously.
Trading volume reduced to 48 lots from 137 lots last Friday, while open interest increased to 139 contracts from 91 contracts previously.
The price of physical gold was set at US$4,714.75 per troy ounce at the London Bullion Market Association afternoon fix on February 2, 2026.
The market remained closed yesterday due to the Thaipusam and Federal Territory public holidays.