Kuala Lumpur: The gold futures contract on Bursa Malaysia Derivatives ended lower today as traders stayed cautious, anticipating key US economic data releases later this week, including the nonfarm payrolls report on Friday. This hesitancy contributed to weaker demand in the market.

According to BERNAMA News Agency, the spot month January 2025 contract fell to US$2,644.40 per troy ounce, down from US$2,667.80 on Friday. Similarly, the February 2025 contract slipped to US$2,655.50 compared with US$2,678.90.

Despite the general downturn, the March, April, and June 2025 contracts saw a slight increase, settling at US$2,664.30 per troy ounce compared to US$2,687.30 previously. This contrast in performance highlights the mixed sentiments among traders.

The trading volume significantly declined to seven lots from 29 lots recorded on Friday, while open interest also decreased, narrowing to 30 contracts from the previous 44 contracts. This reduction in activity reflects the cautious stance adopted by market participants.

The London Bullion Market Association's afternoon fix on January 3 reported the price of physical gold at US$2,646.80 per troy ounce, indicating a slight difference from the futures market.