Gold Futures Likely To Trade With Upward Bias Next Week
By Engku Shariful Azni Engku Ab Latif
KUALA LUMPUR, Sept 19 (Bernama) -- Gold futures on Bursa Malaysia Derivatives are expected to trade with an upward bias next week, supported by expectations of softer US economic data, an analyst said.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the recent decline in US Treasury yields could potentially provide further upside for spot gold prices.
“Perhaps, spot gold prices would make an attempt to break the US$4,400 per ounce level next week especially when crude oil prices should remain stable and skewed to the downside,” he told Bernama.
On a week-on-week basis, the September 2026 contract rose to US$4,393.20 per troy ounce from US$4,353.50, the October 2026 contract advanced to US$4,411.20 per troy ounce from US$4,368.70, and the November 2026 contract went up to US$4,428.50 per troy ounce from US$4,384.00 per troy ounce.
Meanwhile, the December 2026, February 2027 and April 2027 contracts all gained to US$4,436.30 per troy ounce from US$4,391.80 previously.
Weekly trading volume slid to 1,152 lots from 1,492 lots a week ago, while open interest decreased to 307 contracts from 469 contracts.
Physical gold was fixed at US$4,368.10 per troy ounce at the London Bullion Market Association’s afternoon fix on Sept 17, 2026.
-- BERNAMA