Gold Futures End Higher As US Data Eases Bond Yield Pressure

By Harizah Hanim Mohamed

KUALA LUMPUR, Sept 3 (Bernama) -- Gold futures on Bursa Malaysia Derivatives closed higher today, tracking the recovery of gold prices in the global market.

Quintex Intel global strategist Stephen Innes said gold in the global market recovered overnight as softer United States economic data provided some relief from the recent rise in US Treasury yields that had been weighing on the market.

Weaker US economic data including manufacturing data as well as moderate jobs reports helped ease upward pressure on bond yields and allowed gold to move back above US$4,400 per troy ounce.

“We are currently closing in on the US$4,450 level from US$4,400 per-troy-ounce level. The focus now shifts to Friday’s US payrolls report, which will be important in determining whether the recent hawkish repricing of expectations for the Federal Reserve continues or begins to reverse,” he told Bernama.

At the close, the spot-month September 2026 contract rose to US$4,447.70 per troy ounce from US$4,321.7 per troy ounce yesterday, and the October 2026 contract increased to US$4,462.20 per troy ounce from US$4,335.8 per troy ounce.

The November 2026 contract improved to US$4,478.80 per troy ounce from US$4,353.20 per troy ounce, while the December 2026, February 2027 and April 2027 contracts strengthened to US$4,486.6 per troy ounce from US$4,361.0 per troy ounce.

Trading volume jumped to 335 lots from yesterday’s 127 lots, while open interest climbed to 387 contracts from 184 contracts previously.

Physical gold was fixed at US$4,382.25 per troy ounce at the London Bullion Market Association’s afternoon fix on Sept 2, 2026.

-- BERNAMA