Kuala lumpur: Gold futures on Bursa Malaysia Derivatives closed higher on Wednesday, tracking the higher gold prices in the US Commodity Exchange (COMEX). Reports indicated that the bullion rose following signs of progress toward reopening the Strait of Hormuz, which alleviated fears that extended disruptions to global energy supplies would maintain high inflation levels.

According to BERNAMA News Agency, at the close of trading, the spot-month August 2026 contract increased to US$4,174.20 per troy ounce from US$4,065.80 per troy ounce on Tuesday. Meanwhile, the September 2026 note rose to US$4,186.40 per troy ounce from US$4,077.40 previously.

The October 2026, November 2026, and December 2026 contracts also saw increases, reaching US$4,200.00 per troy ounce compared to US$4,090.30 the previous day. Trading volume experienced a rise, with 312 lots transacted, up from 145 on Tuesday, while open interest climbed to 381 contracts from 213 prior.

In the physical gold market, the metal was fixed at US$4,084.20 per troy ounce during the London Bullion Market Association's afternoon fix on August 4, 2026.