Kuala lumpur: Gold futures on Bursa Malaysia Derivatives ended higher on Monday, reflecting growing uncertainty surrounding the new US tariff regime.

According to BERNAMA News Agency, the US Supreme Court recently struck down tariffs imposed by former President Donald Trump under the International Emergency Economic Powers Act (IEEPA), including his reciprocal tariffs. This decision has created a wave of market unpredictability.

In response to the court ruling, Trump announced plans to increase the global baseline tariff to 10%, with a further increase to 15% scheduled for Saturday. Stephen Innes, managing partner at SPI Asset Management, noted that traders are concerned about the sustainability of Trump's executive authority to impose tariffs without definitive congressional approval. "That legal and political uncertainty is driving safe haven demand," Innes stated.

As a result, the spot-month February 2026 contract saw an increase, closing at US$5,157.80 per troy ounce, up from US$5,046.30 last Friday. The March contract rose to US$5,174.80 per troy ounce from US$5,063.30. Similarly, the April and May contracts improved to US$5,192.60 per troy ounce from US$5,081.10. The June and August 2026 contracts also settled higher at US$5,226.50 per troy ounce, compared to the previous US$5,115.0.

Despite these gains, trading volume decreased to six lots from 10 lots on Friday, and open interest eased to 91 contracts from 98 contracts previously. Meanwhile, the physical gold price was fixed at US$5,053.20 per troy ounce at the London Bullion Market Association afternoon fix on February 20, 2026.