Gold Futures End Higher Ahead of US Nonfarm Payrolls Report
By Nurunnasihah Ahmad Rashid
KUALA LUMPUR, Oct 2 (Bernama) -- Gold futures on Bursa Malaysia Derivatives ended higher on Friday, in line with firmer global bullion prices, and amid continued caution ahead of the US nonfarm payrolls report tonight.
SPI Asset Management managing partner Stephen Innes noted that gold closed slightly higher in range-bound trade ahead of the key US labour market data. He said gold had faced significant selling pressure earlier in the week and remained under pressure from a stronger US dollar and higher US Treasury yields.
“This is despite expectations for another US Federal Reserve rate hike being pushed further out toward December, which in theory should have given bullion a bit more breathing room,” he told Bernama.
At the close, the spot-month September 2026 contract increased to US$4,199.30 per troy ounce from US$4,172.70 on Thursday, while October 2026 rose to US$4,216.10 from US$4,189.30.
The November 2026 contract went up to US$4,232.80 per troy ounce from US$4,206.00 yesterday, while December 2026, February 2027 and April 2027 all improved to US$4,232.80 from US$4,206.00 previously.
Trading volume fell to 144 lots from 174 on Thursday, while open interest stood at 212 contracts compared with 213 previously.
Physical gold was fixed at US$4,151.65 per troy ounce at the London Bullion Market Association's afternoon fix on Oct 1.
-- BERNAMA