Gold Futures Pare Two-Day Gains To Close Lower
By Danni Haizal Danial Donald
KUALA LUMPUR, May 8 (Bernama) -- Gold futures on Bursa Malaysia Derivatives pared two-day gains to close lower on Friday as the market remained cautious ahead of the release of the United States jobs report
SPI Asset Management managing partner Stephen Innes said investors are wary that stronger payrolls data could lift US Treasury yields and weigh on the bullion.
“The potential ceasefire between US-Iran narrative continues to cap the broader energy-risk impulse, which is also influencing market sentiment,” he told Bernama.
At the close, the spot-month May 2026 contract slipped to US$4,743.70 per troy ounce from US$4,762.30 on Thursday, while the June 2026 contract fell to US$4,757.70 per troy ounce from US$4,776.30.
The July, August and October 2026 contracts also settled lower at US$4,772.70 per troy ounce, compared with US$4,791.30 previously.
Trading volume rose to 11 lots from three lots on Thursday, while open interest inched up to 68 contracts from 64 contracts previously.
Physical gold was fixed at US$4,743.35 per troy ounce at the London Bullion Market Association afternoon fix on May 7, 2026.
-- BERNAMA