Gold Futures To Trade Range-bound With Upward Bias Next Week
By Abdul Hamid A Rahman
KUALA LUMPUR, July 4 (Bernama) -- Gold futures on Bursa Malaysia Derivatives are expected to trade range-bound with an upward bias next week.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the key catalyst would continue to be the United States interest rate outlook, as a rate hike is not yet a foregone conclusion.
“Given the uncertainty surrounding US interest rates, the Federal Open Market Committee minutes will provide further clarity on the Federal Reserve’s policy stance,” he told Bernama.
The FOMC minutes are scheduled to be released on Thursday, July 9 (Kuala Lumpur time).
On a week-on-week basis, the spot-month July 2026 rose to US$4,183.40 per troy ounce on Friday from US$4,065.30 previously, August 2026 increased to US$4,202.00 per troy ounce from US$4,088.10, and September 2026 contract climbed to US$4,216.90 per troy ounce from US$4,092.60.
Meanwhile, the October and December 2026 contracts were higher at US$4,236.00 per troy ounce compared with US$4,111.70 at the end of the previous week.
Weekly trading volume surged to 667 lots from 69 lots, while open interest rose to 392 contracts on Friday from 83 contracts a week earlier.
Physical gold was fixed at US$4,129.20 per troy ounce at the London Bullion Market Association's afternoon fix on July 2, 2026.
-- BERNAMA