Gold Futures Expected To Top US$4,600 Next Week
By Zufazlin Baharuddin
KUALA LUMPUR, Aug 22 (Bernama) -- Gold futures on Bursa Malaysia Derivatives are expected to breach US$4,600 per troy ounce next week.
Quintex Intel global strategist Stephen Innes said gold should remain supported as investors seek protection against growing concerns over US national debt and the credibility of its fiscal policies after media reported US debt has surpassed US$40 trillion for the first time.
“Bullion is becoming the clearest release valve for concerns over excessive government debt and the risk that policymakers eventually respond through lower real yields, financial repression or renewed balance-sheet support. In that environment, gold remains one of the best hedges against a broader erosion of fiscal credibility across developed markets,” he told Bernama.
Next week, market players are also eyeing fresh leads from the US personal consumption expenditures (PCE) inflation report, which will be released on Aug 26, as well as the Jackson Hole Symposium on Aug 27-29.
In the symposium, investors will be watching for clues on the US Federal Reserve’s policy decision at the upcoming Federal Open Market Committee meeting on Sept 15-16.
On a week-on-week basis, the spot-month August 2026 contract increased to US$4,586.40 per troy ounce from US$4,358.70 on the previous Friday, and the September 2026 contract advanced to US$4,602.90 from US$4,374.90.
The October 2026 contract climbed to US$4,619.90 per troy ounce from US$4,390.6, while the November 2026 contract firmed to US$4,619.90 from US$4,349.20. The December 2026 contract rose to US$4,627.70 per troy ounce from US$4,398.40.
The weekly trading volume jumped to 1,233 lots from 1,009 lots last week, while open interest dipped to 327 contracts from 339 contracts a week earlier.
Physical gold was fixed at US$4,482.95 per troy ounce at the London Bullion Market Association’s afternoon fix on Aug 20, 2026.
-- BERNAMA