Kuala lumpur: Gold futures contract on Bursa Malaysia Derivatives ended higher today, supported by growing expectations of an interest rate cut by the United States (US) Federal Reserve (Fed), said SPI Asset Management managing partner Stephen Innes. He added that investors will closely watch the US ISM manufacturing data, which will be released today.

According to BERNAMA News Agency, if the report points to weaker demand, such as declines in prices paid, new orders, or employment, it could further weigh on the US dollar and offer additional support for gold. Stephen Innes highlighted the potential impact of the economic data on the commodity market, emphasizing the interconnectedness between currency value and gold prices.

The spot-month July 2025 contract rose to US$3,358.30 per troy ounce from US$3,296.80 per troy ounce on Monday, while the August and September 2025 contracts increased to US$3,373.10 from US$3,312.50 per troy ounce, respectively. These upward trends in the futures market reflect investor sentiment leaning towards a more favorable environment for gold amid potential monetary policy shifts.

Additionally, the October and December 2025 contracts surged to US$3,406.80 per troy ounce from Monday’s US$3,312.50 per troy ounce, respectively. The trading volume also witnessed a significant jump to 19 lots versus three lots previously, while open interest increased to 35 contracts from 24 contracts, indicating heightened market activity and investor engagement.

Physical gold was priced at US$3,287.45 per troy ounce, according to the London Bullion Market Association’s afternoon fix on June 30. This price reflects the ongoing market dynamics and the influence of macroeconomic factors on gold valuation.