KUALA LUMPUR: The gold futures contract on Bursa Malaysia Derivatives ended the trading session on a higher note, buoyed by expectations of potential Federal Reserve rate cuts in response to the latest US inflation data.

According to BERNAMA News Agency, the November US Consumer Price Index (CPI) increased by 2.7 percent, surpassing the previous month’s figure of 2.6 percent. The Core CPI remained unchanged at 3.3 percent for the third month in a row, up from 3.2 percent in August, indicating persistent inflation pressures.

The spot-month December 2024 contract climbed to US$2,720.80 per troy ounce, up from US$2,696.50 per troy ounce on Wednesday. Similarly, the January 2025 contract increased to US$2,733.90 per troy ounce from the previous US$2,707.40 per troy ounce. Contracts for February 2025, March 2025, and April 2025 also saw higher settlements at US$2,746.50 per troy ounce compared to US$2,720.10 the day before.

Trading volume experienced an uptick, reaching 104 lots from 59 lots on Wednesday, while
open interest rose to 121 contracts from the previous 76 contracts. Additionally, the London Bullion Market Association’s afternoon fix on December 11 placed the price of physical gold at US$2,705.45 per troy ounce.