By Abdul Hamid A Rahman
KUALA LUMPUR, May 16 (Bernama) -- Gold futures on Bursa Malaysia Derivatives could linger between US$4,500 and US$4,600 per troy ounce next week.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said recent strong United States economic data would likely prompt the Federal Reserve to maintain its restrictive monetary policy stance this year.
“This would provide support for the US dollar and could weigh on gold prices,” he told Bernama.
On a week-on-week basis, the spot-month May 2026 contract decreased to US$4,569.90 per troy ounce on Friday from US$4,743.70 per troy ounce in the previous week, while June 2026 fell to US$4,586.90 per troy ounce from US$4,757.70 per troy ounce.
The July, August and October 2026 contracts settled lower at US$4,600.90 per troy ounce from US$4,772.70 per troy ounce in the preceding week.
Weekly trading volume enhanced to 75 lots from 68 lots, while open interest rose to 94 contracts from 68 contracts a week earlier.
Physical gold was fixed at US$4,683.05 per troy ounce at the London Bullion Market Association afternoon fix on May 14, 2026.
-- BERNAMA
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
