Gold Futures Retreat Amid Stronger US Dollar And Higher Yields

By Fatin Umairah Abdul Hamid

KUALA LUMPUR, Sept 4 (Bernama) -- Gold futures on Bursa Malaysia Derivatives retreated on Thursday, initially weighed down by technical traders flagging overbought conditions with the Relative Strength Index (RSI) readings above 70, and then amplified as momentum funds pressed on the downside.

SPI Asset Management managing director Stephen Innes said while the closing levels suggested consolidation, intraday price action reflected a far more volatile session.

"Gold is being tested by the twin headwinds of higher yields and a US dollar that continues to show resilience," he told Bernama.

He noted that spot gold ended the session just below US$3,540 per ounce, well off the record high of US$3,570 seen overnight.

At the close, the September 2025 contract was marginally lower to US$3,552.5 per troy ounce from US$3,553.70 at the close on Wednesday.

The October 2025 contract reduced to US$3,570.3 per troy ounce from Wednesday’s close of US$3,572.3, November 2025 was slightly lower to US$3,587.1 per troy ounce from US$3,589.10, and December 2025 inched down to US$3,607.5 per troy ounce from US$3,609.50 previously.

At the same time, the February 2026, April 2026 and June 2026 contracts all settled lower at US$3,607.5 per troy ounce compared with US$3,609.5 per troy ounce yesterday.

Trading volume advanced to 252 lots from 134 lots yesterday, while open interest rose to 292 contracts from 160 contracts previously.

Physical gold was priced at US$3,556.20 per troy ounce based on the London Bullion Market Association’s afternoon fix on Sept 3.

Bursa Malaysia will be closed on Friday, Sept 5, 2025, for the Maulidur Rasul public holiday. Trading resumes on Monday, Sept 8.

-- BERNAMA