Gold futures on Bursa Malaysia close lower, impacted by COMEX losses
Gold futures on Bursa Malaysia closed lower, influenced by COMEX losses, with the October contract settling at $4,184.80, down $11.30.
Gold futures on Bursa Malaysia closed lower, influenced by losses recorded by US COMEX futures, according to data reported by Malaysia's Bernama news agency.
The October 2026 contract settled at $4,184.80 per ounce, down $11.30, while contracts from December 2026 through April 2027 ended at $4,218.00, dropping $10.90.
Trading volume rose to 116 contracts compared to 79 contracts, while open interest increased to 193 contracts against 161 contracts, indicating heightened market activity despite falling prices during the session. The increase in these two indicators signals that the market is attracting new traders amidst a price correction in the metal.
This comes after the London Bullion Market's evening fixing price reached $4,186.30 on October 9, reflecting the continued correlation between Asian and US markets in pricing the metal. Malaysian contracts typically follow in the footsteps of their US counterparts in daily movements, and the higher trading volume signifies increased demand from traders seeking to hedge during times of volatility.
What do these terms mean?
Futures contracts: Agreements to buy or sell a commodity at a predetermined price, with delivery taking place at a later date.
Open interest: The total number of outstanding contracts in the market; a rise in open interest reflects trader activity and interest in current price levels.
Fixing price: The benchmark price set in London during morning and evening sessions, used by global markets as a basis for pricing.
Weekly Newsletter
Read between the lines before everyone else. Decode the most important economic, tech, and decision-maker movements in the region.. in 5 minutes every Saturday.
