Gold Futures Close Lower Due To Stronger US Dollar

By K. Naveen Prabu

KUALA LUMPUR, Sept 24 (Bernama) -- Gold futures on Bursa Malaysia Derivatives closed lower on Thursday as a stronger US dollar continued to weigh on the precious metal.

Quintex Intel global strategist Stephen Innes said gold came under pressure as the US Dollar Index (DXY) rose above the 101-point level.

“Other factors which contributed to the bearish outlook for gold include strong United States (US) Purchasing Managers' Index (PMI) readings, higher oil prices, a sharp rise in US Treasury yields and softer risk sentiment,” he told Bernama. 

At the close, the spot-month September 2026 contract fell to US$4,263.90 per troy ounce from US$4,319.30 on Wednesday, while October 2026 dropped to US$4,273.10 from US$4,336.30 yesterday.

The November 2026 contract declined to US$4,289.80 per troy ounce from US$4,353.00 on Wednesday, while December 2026, February 2027 and April 2027 all fell to US$4,297.60 per troy ounce from US$4,360.80  per troy ounce previously.

Trading volume increased to 268 lots from 217 on Wednesday, while open interest rose to 328 contracts from 274 previously.

Physical gold was fixed at US$4,284.45 per troy ounce at the London Bullion Market Association's afternoon fix on Sept 23, 2026.

-- BERNAMA