KUALA LUMPUR, Gold futures on Bursa Malaysia Derivatives closed lower on Tuesday, mirroring global gold market weaknesses ahead of the United States Federal Open Market Committee (FOMC) meeting on Wednesday. Spot month October 2024 gold futures contract decreased to US$2,649 per troy ounce from US$2,663.30 per troy ounce on Monday, while November 2024 fell to US$2,670.8 per troy ounce from US$2,684.70 previously. Meanwhile, the December 2024, January 2025 and February 2025 contracts all settled weaker at US$2,671.3 per troy ounce compared with US$2,685.20 per troy ounce previously. Trading volume went up to 11 lots from three yesterday, while open interest increased to 20 contracts from 19 previously. According to the London Bullion Market Association's afternoon fix on Oct 7, the price of physical gold stood at US$2,640.95 per troy ounce. Source: BERNAMA News Agency
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