Gold Futures To Remain Rangebound Next Week Ahead Of US Inflation Cues

By Fatin Umairah Abdul Hamid

KUALA LUMPUR, Sept 6 (Bernama) -- Trading of gold futures on Bursa Malaysia Derivatives are expected to remain rangebound next week as traders refrain from aggressively pricing in the United States (US) Federal Reserve (Fed) rate cuts beyond September while awaiting clearer signals from upcoming inflation data.

SPI Asset Management managing director Stephen Innes said gold may struggle to carve out fresh highs in the near term unless US payrolls turn negative or inflation delivers a downside surprise.

“If the data undershoot expectations, the case for a September Fed cut strengthens, and gold could quickly retest the US$3,600 level. But if payrolls prove resilient, the metal risks slipping back below US$3,500,” he told Bernama.

On a weekly basis, the spot-month the September 2025 contract improved to US$3,552.50 per troy ounce from US$3,420.40 previously.

The October 2025 contract strengthened to US$3,570.30 per troy ounce from US$3,449.90 the previous Friday, the November 2025 contract increased to US$3,587.10 per troy ounce from US$3,466.70 and the December 2025 contract rose to US$3,607.50 per troy ounce from US$3,487.10 previously.

The February 2026 and April 2026 contracts all settled higher at US$3,607.5 per troy ounce compared with US$3,487.10 per troy ounce previously, while June 2026 contract stood at US$3,607.5 per troy ounce at Thursday's close.

Weekly trading volume jumped to 422 lots from 43 lots last week, while open interest soared to 292  contracts from 33 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.

-- BERNAMA