Gold Futures End Lower As Hopes For December US Rate Cut Cool

KUALA LUMPUR, Nov 17 (Bernama) -- Gold futures on Bursa Malaysia Derivatives ended lower as expectations of a US rate cut in December eased, said SPI Asset Management managing partner Stephen Innes. 

He said that the metal has lost some near-term momentum because investors are reluctant to add risk until the US data backlog clears.

“That said, the structural story remains intact. Central-bank accumulation, persistent fiscal deterioration in major economies, and gold’s roughly 55 per cent year-to-date gain continue to anchor a strong underlying bid,” he told Bernama. 

Additionally, Innes said in the short term, the catalyst for another leg higher will likely require softer US data or a more dovish tone from the Federal Reserve (Fed).

The spot month November 2025 contract eased to US$4,088.50 per troy ounce from US$4,177.30 per troy ounce, December 2025 slipped to US$4,105.70 per troy ounce from US$4,194.50 per troy ounce, and January 2026 fell to US$4,124.30 per troy ounce from US$4,213.10 per troy ounce last Friday.

The February, April, and June 2026 contracts also settled lower at US$4,139.80 per troy ounce, up from US$4,228.10 per troy ounce previously.

Trading volume declined to 13 lots from 143 lots last Friday, while open interest weakened to 48 contracts from 218 contracts.

Physical gold was priced at US$4,071.10 per troy ounce, according to the London Bullion Market Association afternoon fix on Nov 14, 2025.

-- BERNAMA