Kuala lumpur: The gold futures contract on Bursa Malaysia Derivatives continued to close higher on Tuesday following a weaker US dollar, said an analyst.

According to BERNAMA News Agency, SPI Asset Management managing director Stephen Innes noted that the price of the safe-haven asset will likely continue to be influenced by movements in the US dollar, as both remain tied to the same underlying theme: the market's evolving expectations of monetary policy easing by the US Federal Reserve.

Innes also pointed out that geopolitical tensions are beginning to stir the pot, keeping traders on edge. This adds another layer of uncertainty to the market, influencing trading decisions.

At the close, the spot-month August 2025 increased to US$3,382.6 per troy ounce from US$3,376.7 at Monday's close. Similarly, September 2025 rose to US$3,388.1 per troy ounce from US$3,382.2, while October 2025 improved to US$3,416.8 per troy ounce from US$3,411.3 previously.

Moreover, November 2025 was higher at US$3,434.2 per troy ounce from US$3,428.7, with December 2025, February 2026, and April 2026 contracts also settling higher at US$3,452.1 per troy ounce, compared with US$3,446.6 previously.

Trading volume saw an increase, rising to 25 lots from nine on Monday, while open interest also improved to 48 contracts from 38 previously. Physical gold was priced at US$3,380.05 per troy ounce, based on the London Bullion Market Association's afternoon fix on Aug 4, 2025.