Gold Futures Close Higher, Supported By Weaker US Dollar
KUALA LUMPUR, May 29 (Bernama) -- Gold prices traded higher today as a weaker US dollar lent support to bullion prices, analysts said.
However, easing geopolitical tensions in West Asia and persistent concerns over US inflation and the US Federal Reserve's interest rate outlook limited gains.
At the close, the spot-month May 2026 contract rose to US$4,525.80 per troy ounce from US$4,405.00 per troy ounce on Thursday, while the June 2026 contract increased to US$4,553.30 per troy ounce from US$4,422.00 per troy ounce.
The July 2026, August 2026 and October 2026 contracts all settled higher at US$4,567.00 per troy ounce from US$4,435.70 per troy ounce previously.
Trading volume expanded to 34 lots against 12 lots on Thursday, while open interest rose to 98 contracts from 72 contracts previously.
Meanwhile, the physical gold was fixed at US$4,419.45 per troy ounce at the London Bullion Market Association’s afternoon fix on May 28, 2026.
-- BERNAMA