Gold Futures Expected To Hover Around US$4,050-US$4,100 Next Week

By Abdul Hamid A Rahman

KUALA LUMPUR, Aug 1 (Bernama) -- Gold futures on Bursa Malaysia Derivatives are expected to trade within a tight range of between US$4,050 and US$4,100 per troy ounce next week, with an upward bias.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said market sentiment would likely be guided by a series of key United States (US) economic data releases and their implications for the Federal Reserve’s interest rate outlook.

“The coming week will be data-heavy in the US, with several key indicators on business activity and the labour market scheduled for release.

“These include the Institute for Supply Management indices, the Job Openings and Labour Turnover Survey, nonfarm payrolls and the unemployment rate, all of which are expected to shape market sentiment,” he told Bernama.

On a week-on-week basis, the spot-month July 2026 contract eased to US$4,052.20 per troy ounce on Friday from US$4,054.50 per troy ounce last week and the August 2026 contract edged down to US$4,067.90 per troy ounce from US$4,074.20 per troy ounce.

The September 2026 contract slid to US$4,080.00  per troy ounce from US$4,087.00 per troy ounce, while the October and December 2026 contracts both fell to US$4,110.50 per troy ounce from US$4,117.50 at the end of the previous week.

The weekly trading volume jumped to 776 lots from 626 lots a week earlier, while open interest increased to 359 contracts from 210 contracts.

Physical gold was fixed at US$4,111.05 per troy ounce at the London Bullion Market Association's afternoon fix on July 30, 2026.

-- BERNAMA