Gold Futures Seen Trading At US$4,160-US$4,180 Range Next Week
By Engku Shariful Azni Engku Ab Latif
KUALA LUMPUR, Oct 10 (Bernama) -- Gold futures on Bursa Malaysia Derivatives are expected to trade between US$4,160 and US$4,180 per troy ounce next week, as markets expect the US Federal Reserve to hold interest rates steady in October following weak US jobs data, an analyst said.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the scenario might provide some support to the precious metal’s price. “But these narratives remain unstable because the US economy remains strong, and there are also concerns over the fiscal position in the European economies, especially in France and the political uncertainties in Spain. So that results in more demand for the US dollar, effectively. So I think in terms of gold prices, we foresee that it could trade within a tight range,” he said.
On a week-on-week basis, the October 2026 contract fell to US$4,196.10 per troy ounce from US$4,199.30, the November 2026 contract went down to US$4,212.40 from US$4,216.10, and the December 2026 contract dropped to US$4,228.90 from US$4,232.80.
Meanwhile, the January 2027, February 2027 and April 2027 contracts all slipped to US$4,228.90 per troy ounce from US$4,232.80 previously.
Weekly trading volume dropped to 547 lots from 815 lots a week earlier, while open interest declined to 161 contracts from 212 contracts.
Physical gold was fixed at US$4,124.55 per troy ounce at the London Bullion Market Association’s afternoon fix on Oct 9, 2026.
-- BERNAMA