Kuala Lumpur: The gold futures contract on Bursa Malaysia Derivatives closed lower today despite a weaker US dollar, as demand for the precious metal has slowly faded, an analyst said. At today's close, the new spot month May 2025 contract decreased to US$3,288.10 per troy ounce from US$3,293.30 on Wednesday.

According to BERNAMA News Agency, the June 2025, July 2025, August 2025, and October 2025 contracts also declined to US$3,288.10 per troy ounce compared to US$3,311.10 previously. Trading volume saw a decrease to 33 lots from 53 lots on Wednesday, while open interest fell to 40 contracts from 90 contracts previously.

The London Bullion Market Association's afternoon fix on May 1 priced physical gold at US$3,214.75 per troy ounce.