Kuala lumpur: Gold futures on Bursa Malaysia Derivatives closed higher on Monday, supported by lower oil prices. SPI Asset Management managing partner Stephen Innes noted that sentiment was also bolstered by softer US Treasury yields and a weaker US dollar, enhancing the appeal of gold.

According to BERNAMA News Agency, the rise in gold futures appeared counterintuitive at first, as prospects of a peace deal in West Asia would typically reduce gold's attractiveness as a safe-haven asset. However, the market was responding more to the impact of lower oil prices on inflation expectations, bond yields, and the US dollar. 'A potential West Asia peace deal should reduce the geopolitical risk premium. But the stronger transmission is coming through oil, yields and the dollar,' Innes explained.

At the close, the spot-month June 2026 contract rose to US$4,348.40 per troy ounce from US$4,232.70 per troy ounce at Friday's close, while the July 2026 contract increased to US$4,360.40 per troy ounce from US$4,249.30. The August 2026 contract advanced to US$4,381.60 per troy ounce from US$4,265.70. The September 2026 contract stood at US$4,386.10 per troy ounce, while the October 2026 and December 2026 contracts were both pegged at US$4,405.20 per troy ounce.

Trading volume decreased to 17 lots from 22 lots on Friday, while open interest went down to 84 contracts from 89 contracts previously. Meanwhile, physical gold was fixed at US$4,185.95 per troy ounce at the London Bullion Market Association (LBMA) afternoon fix on June 12, 2026.