Gold Futures End Higher, Tracking US COMEX Gains

KUALA LUMPUR, Oct 23 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives closed higher today, tracking the positive performance of the US COMEX gold market.

CIMB Investment Bank Bhd said the macroeconomic environment remains fraught with risks, underscored by heightened geopolitical tensions, widening fiscal imbalances, divergent monetary policy paths, and persistent currency volatility.

“These factors continue to weigh on the global outlook. Consequently, gold’s price trajectory remains tilted to the upside, with any interim pullbacks likely to attract renewed buying interest from both institutional and retail investors.

“We have revised our gold price forecasts higher to US$4,200 per ounce by end-2025 and US$4,600 per ounce by end-2026, reflecting these dynamics. Nonetheless, elevated market volatility could still prompt significant price swings in either direction,” it said in a research note.

The spot-month October 2025 contract climbed to US$4,128.80 per troy ounce from US$4,080.30, while the November 2025 contract improved to US$4,145.50 from US$4,097.00, and the December 2025 note bounced to US$4,160.80 from US$4,113.90 at yesterday’s close.

The January 2026 contract gained to US$4,177.80 per troy ounce from US$4,130.90, while the February 2026, April 2026, and June 2026 contracts all settled higher at US$4,194.40 versus US$4,147.20 previously.

Trading volume fell to 288 lots from 1,111 lots on Wednesday, while open interest fell to 372 contracts from 1,151 contracts previously. 

The physical gold price was US$4,070.00 per troy ounce based on the London Bullion Market Association’s afternoon fix on Oct 22, 2025.