Gold Futures Climb as Fed Rate Hike Expectations Ease
KUALA LUMPUR, Aug 10 (Bernama) -- Gold futures on Bursa Malaysia Derivatives ended higher as reduced expectations of a US Federal Reserve (Fed) rate hike boosted demand for the precious metal.
Lower interest rate expectations tend to support gold by reducing the opportunity cost of holding the non-yielding asset, making it relatively more attractive to investors, a dealer said.
The US jobs report for July was surprisingly weak, with payrolls falling 23,000.
At the close, the spot-month August 2026 contract rose to US$4,359.0 per troy ounce from US$4,322.90 per troy ounce on last Friday, while September 2026 ticked up to US4,373.30 per troy ounce from US$4,335.80 previously.
The October 2026, November 2026, and December 2026 contracts all increased to US$4,388.20 per troy ounce from US$4,349.20 per troy ounce previously.
Trading volume trimmed to 166 lots from 404 lots on last Friday, while open interest narrowed to 242 contracts from 477 contracts previously.
Physical gold was fixed at US$4,335.55 per troy ounce at the London Bullion Market Association’s afternoon fix on Aug 7, 2026.
-- BERNAMA