Uncertainty Over Trump’s Policies Seen Continuing To Support Gold Futures

By Siti Noor Afera Abu

KUALA LUMPUR, March 1 (Bernama) --  The gold futures market on Bursa Malaysia Derivatives is expected to trade in cautious mode next week but well supported, taking its cue from US COMEX gold futures.

SPI Asset Management managing director Stephen Innes said that with trade war tensions simmering and the potential for deepening economic weakness forcing a more aggressive US Federal Reserve easing cycle, gold should find a solid bid at current levels.

“The setup suggests a likely consolidation zone between US$2,840 and US$2,890 next week as traders balance growth risks against monetary policy expectations,” he told Bernama.

On a Friday-to-Friday basis, the spot-month February 2025 contract eased to US$2,861.0 per troy ounce from US$2,926.40 at the end of last week, while the March 2025 contract slipped to US$2,867.20 from US$2,933.30 previously.

The April, May and June 2025 contracts settled lower at US$2,879.90 per troy ounce compared to US$2,943.50 per troy ounce last week.

The volume decreased to 251 lots from 289 last week, while open interest fell to 37 contracts from 106 previously. 

According to the London Bullion Market Association’s afternoon fix on Feb 27, physical gold was priced at US$2,880.80 per troy ounce.

-- BERNAMA