Gold Futures Likely To Trade Higher Next Week

KUALA LUMPUR, Aug 23 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives is expected to trade higher next week, after the United States (US) Federal Reserve chair Jerome Powell signalled a possible interest rate cut in September.

Powell’s remark at the Jackson Hole Economic Policy Symposium last night hinted at a rate cut at the Federal Open Market Committee’s Sept 16-17 meeting, which lifted safe-haven assets.

Meanwhile, market players will be monitoring data from the US Conference Board consumer confidence, which measures the level of consumer confidence in economic activity, as well as the personal consumption expenditures price index, which is known for capturing inflation or deflation across a wide range of consumer expenses.

On a weekly basis, the spot-month August 2025 gold futures contract decreased to US$3,327.30 per troy ounce on Friday from US$3,344.10 per troy ounce a week earlier, and the September 2025 contract shed to US$3,332.70 per troy ounce from US$3,349.50 per troy ounce previously.

The October 2025 note weakened to US$3,362.20 per troy ounce from US$3,378.90 per troy ounce, and the November 2025 note slipped to US$3,379.00 per troy ounce from US$3,395.70 per troy ounce.

Meanwhile, the December 2025, February 2026 and April 2026 contracts all settled lower at US$3,399.40 per troy ounce compared with US$3,415.20 per troy ounce previously.

Weekly trading volume decreased to 53 lots from 98 lots in the previous week, while open interest increased to 56 contracts from 38 contracts.

Physical gold was priced at US$3,338.30 per troy ounce based on the London Bullion Market Association’s afternoon fix on Aug 21.

-- BERNAMA