Gold Futures Likely To Trade Lower Next Week
By Rosemarie Khoo Mohd Sani
KUALA LUMPUR, April 5 (Bernama) -- The gold futures market on Bursa Malaysia Derivatives is expected to trade lower, which may prompt investors to buy on dips, said SPI Asset Management managing director Stephen Innes.
He said gold is still a profitable, liquid asset, and in a broad-based equity wipeout, profitable assets get sold.
“It is the rebalancing paradox: gold might bleed short-term, not because the thesis is broken, but because portfolios need to plug holes elsewhere,” he said, noting that the long-term bid under gold is intact.
On a holiday-shortened week, Friday-to-Friday’s April spot month was US$3,105.20 per troy ounce from US$3,080.20 per troy ounce last week.
Meanwhile, the May 2025, June 2025 and August 2025 contracts gained to US$3,126.80 per troy ounce from US$3,090.20 per troy ounce last week.
Volume advanced to 340 lots this week from 226 lots last week, while open interest increased to 141 contracts from 78 contracts previously.
According to the London Bullion Market Association’s afternoon fix on April 3, physical gold was priced at US$3,118.10 per troy ounce.
Markets were closed on Monday and Tuesday for the Hari Raya Aidilfitri celebration.
-- BERNAMA