Gold Futures End Lower On US Economic Resilience
By Nurunnasihah Ahmad Rashid
KUALA LUMPUR, Oct 1 (Bernama) -- Gold futures on Bursa Malaysia Derivatives ended lower on Thursday in line with weaker global bullion prices as investors considered mixed US economic data and awaited further cues on the outlook of US monetary policy.
SPI Asset Management managing partner Stephen Innes said gold had recovered to above US$4,200 per troy ounce ahead of the US inflation data overnight, but came under renewed pressure despite a softer-than-expected reading.
“The softer-than-expected reading should have supported bullion, but other economic releases pointed to continued US resilience, and gold came under renewed pressure towards the end of the US trading session,” he told Bernama.
He said gold struggled to regain momentum through most of the Asian session, ending slightly lower than the previous day amid thin trading with China’s trading closed for the Golden Week.
At the close, the spot-month September 2026 contract decreased to US$4,172.70 per troy ounce from US$4,188.80 on Wednesday, while October 2026 fell to US$4,189.30 per troy ounce from US$4,201.30.
The November 2026 contract went down to US$4,206.00 per troy ounce from US$4,217.90 yesterday, while December 2026, February 2027 and April 2027 all dropped to US$4,206.00 per troy ounce from US$4,225.70 previously.
Trading volume rose to 174 lots from 127 on Wednesday, while open interest gained to 213 contracts from 171 previously.
Physical gold was fixed at US$4,176.30 per troy ounce at the London Bullion Market Association's afternoon fix on Sept 30.
-- BERNAMA