Kuala Lumpur: The gold futures contract on Bursa Malaysia Derivatives ended lower today, influenced by United States President Donald Trump's postponement of tariff imposition on the European Union (EU).

According to BERNAMA News Agency, Trump decided to defer the planned 50 per cent tariffs on EU goods to July 9, providing both sides additional time to negotiate a deal. This announcement affected the gold futures market, resulting in a drop in prices.

The spot month May 2025 contract decreased to US$3,331.20 per troy ounce from US$3,336.50 per troy ounce last Friday, while the June 2025 contract fell to US$3,344.70 per troy ounce from US$3,349.70 per troy ounce previously. Similar declines were observed in the July, August, and October 2025 contracts, which eased to US$3,358.40 per troy ounce from US$3,363.40 per troy ounce.

The trading volume also saw a reduction, declining to 23 lots from 45 lots last Friday, with open interest slipping to 74 contracts from 82 contracts.

Physical gold was priced at US$3,342.65 per troy ounce, as reported by the London Bullion Market Association's afternoon fix on May 23.