Kuala Lumpur: The gold futures contract on Bursa Malaysia Derivatives ended higher on Wednesday, echoing gains on COMEX as growing global economic uncertainties strengthen the commodity, said an analyst.

According to BERNAMA News Agency, SPI Asset Management managing director Stephen Innes mentioned that the bullion is prepared to endure the impact as traders are turning to gold as a macro protection against these economic uncertainties. Innes noted that gold is increasingly seen as a strategic stance rather than a short-term technical play, as markets seem to be approaching a critical juncture in the ongoing trade war, with a choice looming between siding with China or the United States. In this scenario, gold has positioned itself as a key asset in this economic conflict.

At today’s close, the spot month April 2025 contract rose to US$3,311.60 per troy ounce from US$3,237.10 per troy ounce on Tuesday, while the May 2025 contract increased to US$3,322.00 per troy ounce from US$3,247.50 per troy ounce the previous day. The June 2025, July 2025, and August 2025 contracts all climbed to US$3,336.70 per troy ounce, up from US$3,261.60 per troy ounce previously.

Trading volume fell to 371 lots from 730 lots on Tuesday, while open interest decreased to 426 contracts from 754 contracts previously. According to the London Bullion Market Association’s afternoon fix on April 15, physical gold was priced at US$3,219.60 per troy ounce.