Gold Futures Outlook Remains Bullish For Next Week

By Zarul Effendi Razali

KUALA LUMPUR, Jan 11 (Bernama) -- Gold futures on Bursa Malaysia Derivatives will likely maintain their upward trajectory next week, supported by a positive outlook for physical gold on the London Bullion Market Association.

SPI Asset Management managing partner Stephen Innes said that despite expectations for higher bond yields and a stronger dollar under the shadow of Donald Trump's policies, gold is expected to remain a sought-after asset amid ongoing policy uncertainty, ensuring continued demand in the turbulent financial landscape.

“The recent breach of US$2,675 per troy ounce in spot gold prices has sparked a technically bullish sentiment, indicating a shift to a new trading range between US$2,660 and US$2,710. A move above US$2,700 per troy ounce could further stimulate demand, pushing prices higher.

“The outlook for gold in 2025 remains positive, driven by strong central bank demand and ongoing economic uncertainties, which continue to steer investors towards this traditional safe-haven asset,” he told Bernama.

On a Friday-to-Friday basis, the spot-month January 2025 contract closed higher at US$2,692.70 per troy ounce, up from US$2,667.80 per troy ounce the previous week.

Meanwhile, the February 2025 contract rose to US$2,703.10 per troy ounce from US$2,678.90 per troy ounce.

The March, April, and June 2025 contracts all settled higher, at US$2,707.30 per troy ounce, compared to US$2,687.30 per troy ounce last week.

Volume increased to 83 lots from 41 the previous week, while open interest widened to 56 contracts from 44 contracts.

According to the London Bullion Market Association's afternoon fix on 9 January, the price of physical gold stood at US$2,674.60 per troy ounce.

-- BERNAMA