Gold Futures' Performance To Reflect Market Responses To FOMC Stance, US Tariffs

KUALA LUMPUR, Aug 2 (Bernama) -- Gold futures on Bursa Malaysia Derivatives is set to take its cue from United States (US) COMEX gold amid market responses to the Federal Open Market Committee’s (FOMC) recent stance and new US tariffs on trading partners.

In a research note, RHB Investment Bank Bhd said as long as COMEX gold stays above the US$3,150 per troy ounce support level, the broader bullish structure will remain intact.

“We will keep the positive trading bias, unless the commodity falls below the US$3,150 per troy ounce support,” it said. 

RHB Investment Bank recommends that traders hold on to the long position initiated at June 12’s close (US$3,402.40 per troy ounce).

“To minimise trading risks, the stop-loss threshold is set at US$3,150 per troy ounce. The first support is marked at US$3,250 per troy ounce, followed by the abovementioned US$3,150 per troy ounce. On the flip side, the immediate resistance is set at US$3,450 per troy ounce, followed by US$3,600 per troy ounce,” it added.

On a weekly basis, the spot-month August 2025 contract decreased to US$3,310.40 per troy ounce on Friday from US$3,367.40 a week earlier, the September 2025 contract fell to US$3,316.30 per troy ounce from US$3,373.30 previously, while October 2025 eased to US$3,345.40 per troy ounce from US$3,402.60.

However, November 2025 stood at US$3,362.80 per troy ounce, while December 2025, February 2026 and April 2026 contracts both settled lower at US$3,380.20 per troy ounce compared with US$3,402.60 previously.

Weekly trading volume weakened to 129 lots from 151 lots in the previous week, while open interest declined to 29 contracts from 71 contracts.

Physical gold was priced at US$3,298.85 per troy ounce based on the London Bullion Market Association’s afternoon fix on July 31, 2025.

-- BERNAMA