Gold Futures End Higher On Global Fiscal Concerns

By Harizah Hanim Mohamed

KUALA LUMPUR, Aug 12 (Bernama) -- Gold futures on Bursa Malaysia Derivatives ended higher on Tuesday, against a broader backdrop of global fiscal concerns, rising government debt burdens and persistent questions over the long-term credibility of sovereign balance sheets.

Quintex Intel global strategist Stephen Innes said the precious metal continues to trade with surprising resilience despite a fairly hostile traditional macroeconomic backdrop.

“Higher US real yields, a firmer US dollar and even elevated oil prices, which initially dampened bullion’s appeal during the early stages of the US–Iran conflict, have failed to break the underlying bid,” he told Bernama.

Innes further said that structural demand is being reinforced in Asia, where the People's Bank of China (PBOC) continues to accumulate gold while mainland Chinese investors remain active buyers of gold exchange-trade funds (ETFs).

“In other words, gold is currently looking through some of its usual cyclical headwinds because the market is paying greater attention to the longer-term fiscal and monetary hedge,” he added. 

At the close, the spot-month August 2026 contract rose to US$4,424.20 per troy ounce from US$4,380.9 per troy ounce on Tuesday, and September 2026 went up to US$4,445.9 per troy ounce from US$4,396.9 per troy ounce previously. 

The October 2026, November 2026, and December 2026 contracts all increased to US$4,457.6 pre troy ounce from US$4,412.4 per troy ounce previously.

Trading volume slipped to 169 lots from 189  lots on yesterday, while open interest edged up to 269 contracts from 264 contracts previously.

Physical gold was fixed at US$4,383.35 per troy ounce at the London Bullion Market Association’s afternoon fix on Aug 11, 2026. 

-- BERNAMA