The gold futures contract on Bursa Malaysia Derivatives ended higher today due to expectations of interest rate cuts by the United States Federal Reserve. The September 2024 contract rose to US$2,575.00 per troy ounce from US$2,523.10 per troy ounce yesterday. The October 2024, November 2024, December 2024, February 2025 and April 2025 contracts all settled higher at US$2,587.30 per troy ounce compared to US$2,535.40 per troy ounce previously. Volume decreased to 14 lots from 22 lots on Thursday, while open interest declined to 74 contracts from 82 contracts. The price of physical gold stood at US$2,545.95 per troy ounce, according to the London Bullion Market Association's afternoon fix on Sept 12. Source: BERNAMA News Agency
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