Gold Futures Likely To See Profit-Taking Ahead Of US Inflation Data
By Harizah Hanim Mohamed
KUALA LUMPUR, Sept 5 (Bernama) -- Gold futures on Bursa Malaysia Derivatives are expected to see some profit-taking early next week ahead of the release of key United States inflation data, said Quintex Intel global strategist Stephen Innes.
He said gold futures are expected to track gold prices, which are likely to trade broadly in the US$4,450 to US$4,500 range.
“Much of the outlook from here would hinge on next week’s US Consumer Price Index and Producer Price Index reports.
“Higher-than-expected inflation readings would quickly revive expectations for a Federal Reserve rate hike and could put some pressure back on gold,” Innes told Bernama.
He said gold has been remarkably resilient on pullbacks, with the broader themes of strong central bank buying and robust Asian retail demand continuing to provide underlying support.
On a week-on-week basis, the September 2026 contract fell to US$4,477.50 per troy ounce from US$4,619.30.
The October 2026 contract declined to US$4,491.30 per troy ounce from US$4,635.50, while the December 2026, February 2027 and new spot-month April 2027 contracts fell to US$4,517.50 per troy ounce from US$4,643.30 previously.
Weekly trading volume fell to 881 lots from 1,713 lots a week ago, while open interest declined to 357 contracts from 415 contracts.
Physical gold was fixed at US$4,467.15 per troy ounce at the London Bullion Market Association’s afternoon fix on Sept 3, 2026.
-- BERNAMA