Gold Futures Seen Trading In US$4,100-US$4,300 Range Next Week

By Nurunnasihah Ahmad Rashid

KUALA LUMPUR, Oct 3 (Bernama) -- Gold futures on Bursa Malaysia Derivatives are likely to trade between US$4,100 and US$4,300 per troy ounce next week, with the precious metal expected to remain highly sensitive to United States economic data and broader monetary policy expectations.

SPI Asset Management managing partner Stephen Innes said current options pricing suggested the market was braced for a move of about 2.5 per cent on either side of current levels, indicating a broad trading range around current prices.

“Asian demand is also likely to remain subdued in the early part of next week, with China still away for Golden Week until Oct 7,” he told Bernama.

Innes said the temporary absence of Chinese buying, which had been an important source of regional demand, could weigh on the broader gold market.

“For now, gold is caught between softer near-term US Federal Reserve expectations on one side and a still firm US dollar and elevated real yields on the other.

“Until one of those forces gives way, the market may remain more two-way and range-bound rather than immediately returning to a strong directional trend,” he explained.

On a week-on-week basis, the October 2026 contract fell to US$4,199.30 per troy ounce from US$4,308.30, the November 2026 contract went down to US$4,216.10 per troy ounce from US$4,325.20, and the December 2026 contract dropped to US$4,232.80 per troy ounce from US$4,333.00.

Meanwhile, the January 2027, February 2027 and April 2027 contracts all slipped to US$4,232.80 per troy ounce from US$4,333.00 previously.

Weekly trading volume decreased to 815 lots from 1,256 lots a week earlier, while open interest declined to 212 contracts from 222 contracts.

Physical gold was fixed at US$4,151.65 per troy ounce at the London Bullion Market Association’s afternoon fix on Oct 1, 2026.

-- BERNAMA