Gold Futures Closes Higher For Third Straight Day On Firmer Market Sentiment

By Danni Haizal Danial Donald

KUALA LUMPUR, Nov 5 (Bernama) -- Gold futures on Bursa Malaysia Derivatives closed higher for the third consecutive day on Thursday, as improved risk appetite supported market sentiment.

SPI Asset Management managing partner Stephen Innes said investors are raising cash to cover losses and margin calls in other markets, easing forced selling pressure on the precious metal.

“With key indices trading better, that liquidation pressure is easing, allowing gold to benefit from falling yields and lower oil prices.

“Technically, the break above US$4,082 was an important near-term development, but what’s particularly interesting is how we got here. This is much more about inflation expectations, monetary policy and the removal of forced selling pressure,” he told Bernama.

Nevertheless, Innes said gold will ultimately need some support from the US Federal Reserve to extend its gains.

“If policymakers follow through with a December interest rate hike, that could put a ceiling on the rally, particularly if the US dollar remains relatively resilient.

“For now, though, the combination of lower oil, softer yields and healthier equity markets has given gold some much-needed breathing room,” he said.

At the close, the spot month November 2026 contract rose to US$4,140.80 per troy ounce from Wednesday’s close of US$4,058.90, while the December 2026 contract gained to US$4,156 from US$4,074.10.

The January 2027, February 2027, April 2027 and June 2027 contracts advanced to US$4,157.10 per troy ounce from US$4,075.20 at the previous close.

Trading volume fell to 165 lots from 211 on Wednesday, while open interest fell to 220 contracts from 268.

Physical gold was fixed at US$4,037.80 per troy ounce at the London Bullion Market Association’s afternoon fixing on Nov 4, 2026.

-- BERNAMA