Kuala Lumpur: Gold futures on Bursa Malaysia Derivatives fell on Tuesday amid concerns over US trade tariffs and worsening US-China relations. The spot-month February 2025 contract slipped to US$2,938.80 per troy ounce from US$2,947.50 on Monday, while the March 2025 contract decreased to US$2,943.90 from US$2,952.60 previously.

According to BERNAMA News Agency, the April, May, and June 2025 contracts also experienced declines, falling to US$2,954.30 per troy ounce from Monday's US$2,962.80. Despite the drop in prices, trading volume rose significantly to 51 lots from 10 lots the previous day, indicating increased market activity. Open interest also widened, reaching 63 contracts compared to 22 contracts previously.

The London Bullion Market Association's afternoon fix on February 24 reported that physical gold was priced at US$2,931.90 per troy ounce, highlighting the ongoing volatility in the market due to geopolitical tensions.