Kuala lumpur: Gold futures on Bursa Malaysia Derivatives closed higher today, reflecting the gains seen in US Comex gold futures as investors increasingly turn to safe-haven assets.

According to BERNAMA News Agency, SPI Asset Management managing partner Stephen Innes stated that after surpassing the US$5,500 mark in early Asian trading, gold is behaving less like a typical commodity. Instead, it serves as a clear indicator of where investors are opting to secure their assets, valuing gold's familiarity, trust, and recognition as a reliable store of value.

Innes pointed out that while gold prices have not yet reached the US$6,000 threshold, there is a growing expectation for a persistent upward trend. He explained that once prices decisively move beyond US$5,500, the focus shifts from short-term trading to longer-term confidence in gold's role as a hedge and stabilizer.

He further commented that at this stage, prices begin to exceed forecasts, prompting analysts to revise their targets towards US$6,000 and potentially US$6,500, as the market re-evaluates the strength and persistence of demand for gold.

At the close, the spot month January 2026 contract rose to US$5,516.50 per troy ounce from US$5,295.40 per troy ounce. The February 2026 contract increased to US$5,533.90 per troy ounce from US$5,311.70 per troy ounce, and the March 2026 contract was higher at US$5,552.20 per troy ounce from US$5,330.00 per troy ounce on Wednesday.

The April, June, and August 2026 contracts also saw gains, settling at US$5,569.00 per troy ounce compared to the previous US$5,348.10 per troy ounce. Trading volume was lower at 245 lots compared to 433 lots yesterday, while open interest fell to 332 contracts from 524 contracts previously.

The price of physical gold was fixed at US$5,277.80 per troy ounce at the London Bullion Market Association afternoon fix on January 28, 2026.