KUALA LUMPUR: Gold futures on Bursa Malaysia Derivatives are expected to trend cautiously next week, following the United States (US) Federal Reserve’s (Fed) recent interest rate cut.
SPI Asset Management managing director Stephen Innes said the bullion may enter into a consolidation mode next week, but any fresh signs of dollar weakness sparked by dovish Fed rhetoric would likely see the metal bounce again.
“The market still believes the Fed leans dovish over the medium term. We continue to see dip-buyers lurking for gold,“ he told Bernama.
On a weekly basis, the spot-month September 2025 contract improved to US$3,660.20 per troy ounce from US$3,653.60 previously.
The October 2025 contract strengthened to US$3,676.60 per troy ounce from US$3,670.90 the previous week, and the November 2025 contract increased to US$3,693.40 per troy ounce from US$3,687.70 previously.
The December 2025, February 2026, April 2026 and June 2026 contracts all settled higher at US$3,714.30 per troy ounce compared with US$3,709.10 per troy ounce previously.
Weekly trading volume was up at 1,388 lots from 1,348 lots last week, while open interest climbed to 807 contracts from 361 contracts previously.
Physical gold stood at US$3,643.70 per troy ounce based on the London Bullion Market Association’s afternoon fix on Sept 18, 2025. – Bernama
