Gold Futures Snap Three-day Winning Streak To Close Lower

By Danni Haizal Danial Donald

KUALA LUMPUR, Nov 6 (Bernama) -- Gold futures on Bursa Malaysia Derivatives snapped a three-day winning streak to close lower on Friday, tracking weaker performance on the US Commodity Exchange (COMEX).

SPI Asset Management managing partner Stephen Innes told Bernama that the bullion has resumed its usual trend of moving in the opposite direction to oil prices and in line with US equities.

“This explains the precious metal’s decline as oil prices rose and US stocks recorded a sharp sell-off overnight,” he told Bernama.

At the close, the spot month November 2026 contract fell to US$4,087.60 per troy ounce from Thursday’s close of US$4,140.80, while the December 2026 contract slipped to US$4,103.20 from US$4,156.

The January 2027, February 2027, April 2027 and June 2027 contracts decreased to US$4,104.30 per troy ounce from US$4,157.10 at the previous close.

Trading volume declined to 103 lots from 165 on Wednesday, while open interest reduced to 177 contracts from 220.

Physical gold was fixed at US$4,112.85 per troy ounce at the London Bullion Market Association’s afternoon fixing on Nov 5, 2026.

-- BERNAMA