Gold Futures To Trade US$4,300-US$4,500 Next Week Amid West Asia Tensions

By Fatin Umairah Abdul Hamid

KUALA LUMPUR, March 28 (Bernama) -- Gold futures on Bursa Malaysia Derivatives are expected to trade within a wide range of US$4,300 to US$4,500 next week amid market uncertainty over ongoing West Asia tensions.

SPI Asset Management managing partner Stephen Innes said investors are navigating scenarios ranging from a ceasefire and potential disruptions to Iranian oil exports to a broader US military escalation.

Innes said that easing tensions would likely push oil prices lower, which could in turn reduce yields, easing pressure on gold and restoring its appeal as a store of value.

“In simple terms, gold is not just reacting to geopolitical risks right now. It is reacting to how oil prices are influencing interest rates,” he told Bernama.

Over the past week, gold futures mostly fell as the West Asia conflict eased, making the safe-haven metal more attractive after a recent forced selloff and amid ongoing concerns about rising tensions.

On a week-on-week basis, March 2026 decreased to US$4,439.80 per troy ounce on Friday from US$4,720.10 per troy ounce at the end of last week. 

April 2026 fell to US$4,459.80 per troy ounce from US$4,740.20 per troy ounce previously, and May 2026 declined to US$4,479.80 per troy ounce from US$4,760.40 per troy ounce.

The June and August 2026 contracts also settled lower at US$4,513.70 per troy ounce compared with US$4,794.30 per troy ounce in the preceding week.

Weekly trading volume fell to 60 lots from 93 lots a week earlier, while open interest edged down to 87 contracts from 88 contracts.

Physical gold was fixed at US$4,456.45 per troy ounce at the London Bullion Market Association afternoon fix on March 26, 2026.

-- BERNAMA