Gold Futures End Higher As US Treasury Buybacks Weigh On Yields

By Zufazlin Baharuddin

KUALA LUMPUR, Aug 20 (Bernama) -- Gold futures on Bursa Malaysia Derivatives ended higher as the US Treasury buyback plan lowered Treasury yields.

Quintex Intel global strategist Stephen Innes told Bernama that the decline in long-end US Treasury yields following the expansion of US Treasury buybacks has taken some support away from the US dollar, and gold has responded accordingly.

The Treasury Department said on Wednesday that it would at least double government debt buybacks over the next few months, focusing on the sensitive longer-duration segment of the market.

At the close, the spot-month August 2026 contract gained to US$4,494.50 per troy ounce from Tuesday’s US$4,360.0 per troy ounce, and the September 2026 contract rose to US$4,511.00 per troy ounce from US$4,376.60 per troy ounce previously.

The October and November 2026 contracts both increased to US$4,527.30 per troy ounce from US$4,392.70 per troy ounce yesterday, while the December 2026 and February 2027 contracts strengthened to US$4,535.10 per troy ounce from US$4,400.50 per troy ounce.

Trading volume rose to 338 lots from 327 lots on Wednesday, while open interest inched up to 415 contracts from 413 contracts previously.

Physical gold was fixed at US$4,460.70 per troy ounce at the London Bullion Market Association’s afternoon fix on Aug 19, 2026.

-- BERNAMA