Gold Futures Expected To Trade Range-bound With Upward Bias Next Week

By Danni Haizal Danial Donald

KUALA LUMPUR, June 27 (Bernama) -- Gold futures on Bursa Malaysia Derivatives are expected to trade range-bound with a slight upward bias next week ahead of key economic data releases.

SPI Asset Management managing partner Stephen Innes said the upcoming United States (US) non-farm payrolls (NFP) report will be a key factor in shaping expectations for a potential US interest rate hike.

“The upcoming NFP report is expected to confirm that both the US consumer and labour markets are cooling sufficiently to make another US Federal Reserve interest rate hike appear less credible.

“If next week’s payrolls reinforce this divergence, the US dollar could come under further pressure, US Treasury yields may ease again, and the precious metal would have some catalyst to extend its recovery,” he told Bernama.

On a week-on-week basis, the spot-month June 2026 contract fell to US$4,050.90 per troy ounce yesterday from US$4,170.80 at the previous Friday’s close; July 2026 slid to US$4,065.30 per troy ounce from US$4,184.90 last week, and August 2026 decreased to US$4,088.10 per troy ounce from US$4,205.50 previously.

The September 2026 contract dropped to US$4,092.60 per troy ounce from US$4,210.00 on Friday last week, while the October and December 2026 contracts were lower at US$4,111.70 per troy ounce from US$4,229.10 previously.

Weekly trading volume increased to 69 lots from 47 lots, while open interest eased to 83 contracts from 87 contracts a week earlier.

Physical gold was fixed at US$4,001.80 per troy ounce at the London Bullion Market Association's afternoon fix on June 25, 2026.

-- BERNAMA