KUALA LUMPUR, May 4 — Gold futures on Bursa Malaysia Derivatives closed lower on Monday, tracking the softer COMEX gold futures performance, as investors digested hawkish stances on inflation by major central banks.
SPI Asset Management managing partner Stephen Innes said major central banks are not prepared to tolerate any renewed inflation impulse, especially those spilling over from higher energy prices.
“That shift has put the precious metal on the back foot. When major central banks lean firm and real yields hold their ground, gold tends to lose some of its shine.
“As such, traders are viewing this as a pre-emptive stance, with policymakers effectively drawing a line before energy-driven inflation can gain traction,” he told Bernama.
At the close, the spot-month April 2026 contract fell to US$4,610.70 per troy ounce from US$4,625.80 on Thursday, while the May 2026 contract slipped to US$4,623.70 per troy ounce from US$4,659.50.
The June, July, and August 2026 contracts also settled lower at US$4,638.20 per troy ounce compared with US$4,670.20 previously.
Trading volume dropped to six lots from 28 lots last Thursday, while open interest decreased to 72 contracts from 97 contracts previously.
Physical gold was fixed at US$4,636.90 per troy ounce at the London Bullion Market Association afternoon fix on May 1, 2026.
