Gold Futures Likely To Trade Between US$4,200 And US$4,400 Next Week
By K. Naveen Prabu
KUALA LUMPUR, Sept 26 (Bernama) -- Gold futures on Bursa Malaysia Derivatives are likely to trade between US$4,200 and US$4,400 per troy ounce next week, with oil prices, bond yields and the US dollar expected to influence market direction.
Quintex Intel global strategist Stephen Innes said oil prices would be a key uncertainty next week, while elevated bond yields and the US Federal Reserve's (Fed) hawkish interest rate outlook remained important factors for gold.
He said central bank demand continued to provide strong longer-term support for the precious metal, but it could not fully shield gold from a hawkish Fed in the near term.
“Atlanta Fed GDPNow pointing to growth above 5.0 per cent (for the third quarter of 2026) strengthens the case that the US economy can absorb multiple rate hikes, while a firmer dollar would add another headwind,” he told Bernama.
On a week-on-week basis, the September 2026 contract decreased to US$4,292.40 per troy ounce on Friday from US$4,393.20 previously, the October 2026 contract fell to US$4,308.30 per troy ounce from US$4,411.20, and the November 2026 contract went down to US$4,325.20 per troy ounce from US$4,428.50.
Meanwhile, the December 2026, February 2027 and April 2027 contracts all slipped to US$4,333.00 per troy ounce from US$4,436.30 previously.
Weekly trading volume increased to 1,256 lots from 1,152 lots a week earlier, while open interest declined to 222 contracts from 307 contracts.
Physical gold was fixed at US$4,266.40 per troy ounce at the London Bullion Market Association’s afternoon fix on Sept 24, 2026.
-- BERNAMA