Kuala Lumpur: Gold futures contract on Bursa Malaysia Derivatives ended higher on Wednesday ahead of a key US inflation report later today, said a dealer. The dealer noted that the inflation report would offer investors insights into the US Federal Reserve's monetary easing path.

According to BERNAMA News Agency, the spot month January 2025 contract rose to US$2,692.30 per troy ounce from US$2,672.70 on Tuesday, while the February 2025 contract increased to US$2,701.50 per troy ounce from US$2,681.90 the previous day. The March 2025, April 2025, and June 2025 contracts all closed higher at US$2,710.20 per troy ounce from US$2,690.60.

Trading volume saw a significant increase, rising to 47 lots from 12 on Tuesday. Meanwhile, open interest expanded to 69 contracts from 22 the day before.

The London Bullion Market Association's afternoon fix on January 14 reported the physical gold price at US$2,667.0 per troy ounce, providing a benchmark for the market's activity.