Kuala Lumpur:Gold futures on Bursa Malaysia Derivatives are anticipated to trade within the range of US$4,200 to US$4,400 per troy ounce next week. The movement is expected to be influenced by oil prices, bond yields, and the strength of the US dollar.
According to BERNAMA News Agency, Quintex Intel global strategist Stephen Innes highlighted that oil prices would remain a key uncertainty. Additionally, elevated bond yields and the US Federal Reserve's hawkish interest rate outlook are significant factors impacting gold. While central bank demand continues to offer strong long-term support for gold, it is unlikely to fully protect the metal from the Federal Reserve's stance in the short term.
Innes also noted that the Atlanta Fed GDPNow pointing to growth above 5.0 percent for the third quarter of 2026 suggests the US economy could withstand multiple rate hikes. This potential for a stronger US dollar would present another challenge for gold.
On a week-on-week basis, the September 2026 gold futures contract decreased to US$4,292.40 per troy ounce from the previous US$4,393.20. The October 2026 contract fell to US$4,308.30 from US$4,411.20, while the November 2026 contract declined to US$4,325.20 from US$4,428.50. Additionally, the December 2026, February 2027, and April 2027 contracts all dropped to US$4,333.00 from US$4,436.30.
Trading volume for the week rose to 1,256 lots from 1,152 lots the previous week, whereas open interest decreased to 222 contracts from 307 contracts. Physical gold was fixed at US$4,266.40 per troy ounce at the London Bullion Market Association's afternoon fix on September 24, 2026.