Gold Futures Seen To Remain Under Pressure Next Week
By Siti Noor Afera Abu
KUALA LUMPUR, March 7 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives is expected to stay under pressure next week as higher US yields continue along its current trajectory.
SPI Asset Management managing partner Stephen Innes said any downside is likely to be temporary, noting that the current selling may reflect investors shifting from gold into cash to meet margin calls in other assets rather than signalling a structural move away from the precious metal.
“For next week, I would expect gold to trade broadly in the US$5,060 to US$5,160 range, with price action primarily driven by movements in US real yields and the direction of the US dollar,” he told Bernama.
On a week-on-week basis, March 2026 decreased to US$5,128.50 per troy ounce from US$5,200.30 per troy ounce.
April 2026 fell to US$5,147.0 per troy ounce from US$5,218.50 per troy ounce, and May 2026 declined to US$5,166.10 per troy ounce from US$5,218.50 per troy ounce previously.
The June and August 2026 contracts also settled lower at US$5,200.0 per troy ounce versus US$5,252.40 per troy ounce previously.
Weekly trading volume strengthened to 73 lots from 56 lots a week earlier, while open interest narrowed to 100 contracts compared with 116 contracts.
The price of physical gold was fixed at US$5,104.05 per troy ounce at the London Bullion Market Association afternoon fix on March 6, 2026.
-- BERNAMA