Kuala lumpur: The gold futures contracts on Bursa Malaysia Derivatives saw a significant rise as concerns over the United States’ tariff threats contributed to the increase in the precious metal’s price.

According to BERNAMA News Agency, Stephen Innes, managing partner at SPI Asset Management, highlighted that gold experienced a topside range-breaking session. This was driven by two key factors: the escalation of the US’ tariff threats against the European Union and a new challenge to the US Federal Reserve’s independence. Innes commented on the potential impact of President Donald Trump’s actions, suggesting that his interest in replacing Fed Chair Jerome Powell could lead to a more politically compliant central bank. This shift might result in quicker rate cuts, potentially undermining the dollar’s credibility over time.

Innes further explained that the possibility of policy-driven currency debasement is prompting increased demand for gold, particularly in a climate where appetite for the metal is already heightened due to trade risks. “In this environment, gold isn’t just a hedge, it’s a vote against monetary compromise,” he remarked.

As a result, the spot-month July 2025 contract rose to US$3,377.70 per troy ounce, up from US$3,346.20 per troy ounce last Friday. Similarly, the August 2025 contract climbed to US$3,394.90 from US$3,362.70 last week, and the September 2025 contract advanced to US$3,418.0 from US$3,377.60 previously. The October 2025, December 2025, and February 2026 contracts also settled higher at US$3,430.40, up from US$3,397.50.

Trading volume on Bursa Malaysia jumped to 37 lots from 28 lots last Friday, while open interest increased to 78 contracts from 72 contracts previously. On the physical market, gold was priced at US$3,352.10 per troy ounce, as per the London Bullion Market Association’s afternoon fix on July 11, 2025.