Dollar Strength Sinks Gold Futures on Bursa Malaysia Derivatives

Gold futures on Bursa Malaysia Derivatives closed lower on Tuesday as a stronger US dollar weighed on the precious metal. According to Quintex Intel global strategist Stephen Innes, hawkish comments from US Federal Reserve officials were driving the dollar's strength.

Innes pointed out that Chicago Fed president Austan Goolsbee warned of persistent inflation, and the path back to the 2.0 per cent inflation target may not be painless. The dollar's rise put pressure on gold during the Asian session, which was unusual as Asian markets are generally strong buyers of gold.

The spot-month September 2026 contract fell to US$4,320.80 per troy ounce from US$4,350.10 on Monday, while other contracts also declined in value.