Gold Futures Likely To Trade Higher Next Week

By Rosemarie Khoo Mohd Sani

KUALA LUMPUR, July 11 (Bernama) -- Gold futures on Bursa Malaysia Derivatives are expected to trade higher next week ahead of the release of the the United States Consumer Price Index (CPI) report next Tuesday, an analyst said.

SPI Asset Management managing partner Stephen Innes told Bernama that there is a reasonable chance the inflation data could come in softer, particularly if lower energy prices reverse last month's inflation spike.

A softer-than-expected CPI reading would likely reinforce expectations of a US Federal Reserve monetary policy easing, supporting gold prices while putting pressure on the US dollar.

On a week-on-week basis, the spot-month July 2026 fell to US$4,109.30 per troy ounce on Friday from US$4,183.40 previously, August 2026 decreased to US$4,129.90 per troy ounce from US$4,202.00, and the September 2026 contract dropped to US$4,141.70 per troy ounce from US$4,216.90.

Meanwhile, the October and December 2026 contracts declined to US$4,172.20 per troy ounce compared with US$4,236.00 at the end of the previous week.

Weekly trading volume narrowed to 493 lots from 667 lots, while open interest tumbled to 105 contracts on Friday from 392 contracts a week earlier.

Physical gold was fixed at US$4,130.15 per troy ounce at the London Bullion Market Association's afternoon fix on July 9, 2026.

-- BERNAMA