Gold Futures Expected To Hold Firm Next Week On Lower Rate-Hike Odds

By Durratul Ain Ahmad Fuad

KUALA LUMPUR, Aug 29 (Bernama) --Gold futures on Bursa Malaysia Derivatives are expected to remain supported next week, with spot gold prices seen hovering around US$4,590 to US$4,610 per troy ounce amid reduced expectations of a US Federal Reserve (Fed) rate hike.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said expectations of a less aggressive monetary policy stance by the Fed could continue to support demand for the precious metal.

“In light of the lower odds for a rate hike by the US Fed, spot gold prices should continue to hover around US$4,590 to US$4,610 per troy ounce, although there could be intermittent profit-taking,” he told Bernama.

The market will closely monitor US non-farm payrolls (NFP) and ISM data next week for further clues on the Fed’s interest rate outlook.

On a week-on-week basis, the spot-month August 2026 contract rose to US$4,602.00 per troy ounce from US$4,586.40 a week earlier, while the September 2026 contract increased to US$4,619.30 from US$4,602.90.

The October 2026 and November 2026 contracts climbed to US$4,635.50 per troy ounce from US$4,619.90, while the December 2026 and February 2027 contracts rose to US$4,643.30 from US$4,627.70.

Weekly trading volume increased to 1,713 lots from 1,233 lots a week earlier, while open interest rose to 415 contracts from 327 contracts.

Physical gold was fixed at US$4,568.95 per troy ounce at the London Bullion Market Association’s afternoon fix on Aug 27, 2026.

-- BERNAMA