KUALA LUMPUR, Oct 1 (Bernama) -- Gold futures on Bursa Malaysia Derivatives closed mostly higher on Tuesday amidst geopolitical risks in the Middle East and hawkish remarks from Federal Reserve chairman Jerome Powell regarding potential interest rate cuts.

At home, the new spot month October 2024 gold futures contract fell to US$2,660.70 per troy ounce from US$2,664.70 on Monday.

Meanwhile, the November 2024, December 2024, January 2025 and February 2025 contracts all settled higher at US$2,681.80 per troy ounce, compared with US$2,664.70 on Monday.

Trading volume decreased to nine lots from 12 lots, while open interest narrowed to 24 contracts from 45 contracts previously.

According to the London Bullion Market Association’s afternoon fix on September 30, the price of physical stood at US$2,629.95 per troy ounce.

-- BERNAMA