Gold Futures Slip As Trade Talk Optimism Grows
KUALA LUMPUR, April 28 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives ended lower today amid increasing risk appetite driven by positive signals from US-Asia trade talks.
SPI Asset Management managing director Stephen Innes said gold is seen retreating from its recent bullish momentum as tariff talks showed signs of relaxation, easing market fears, and weighing on gold's safe-haven appeal.
"Nevertheless, this pullback looks more like profit-taking than a sign of a structural downturn, suggesting the longer-term outlook for gold remains positive," he said.
At today's close, the spot month April 2025 contract dropped to US$3,280.90 per troy ounce from US$3,307.20 on Friday, and May 2025 decreased to US$3,289.90 per troy ounce from US$3,316.20 previously.
June 2025, July 2025, and August 2025 contracts fell to US$3,307.10 per troy ounce from US$3,332.80 last Friday.
Trading volume rose to 202 lots from 37 lots on Friday while open interest declined to 36 contracts against 88 contracts previously.
According to the London Bullion Market Association's afternoon fix on April 25, physical gold was priced at US$3,277.30 per troy ounce.
-- BERNAMA
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