Gold Futures Likely To Remain Cautious Next Week Amid West Asia War, Rising Crude Prices

By Siti Noor Afera Abu

KUALA LUMPUR, April 25 (Bernama) -- Gold futures are expected to remain cautious in the near term as the lack of positive development in the war in West Asia has resulted in crude oil prices gradually climbing.

Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said this gives the impression that the inflation rate could be higher.

He said that the rationale for higher gold prices is becoming more evident, as the risk of rising inflation suggests that holding more gold could serve as a hedge against it.

Nonetheless, gold prices have corrected after reaching US$5,500 per ounce in January 2026.

“For now, gold prices have hovered around US$4,500 to US$4,900 per ounce. With the current sentiment, spot gold prices would oscillate around US$4,600 to US$4,700 per ounce next week,” Mohd Afzanizam told Bernama.

On a week-on-week basis, the spot-month April 2026 contract fell to US$4,697.70 per troy ounce on Friday from US$4,868.00 per troy ounce in the previous week.

The May 2026 contract declined to US$4,720.20 per troy ounce from US$4,836.20 per troy ounce. 

The June, July, and August 2026 contracts decreased to US$4,735.70 per troy ounce from US$4,854.70 per troy ounce in the preceding week.

Weekly trading volume edged down to 58 lots from 60 lots, while open interest slipped to 74 contracts on Friday from 87 contracts a week earlier.

Physical gold was fixed at US$4,719.15 per troy ounce at the London Bullion Market Association afternoon fix on April 23, 2026. 

-- BERNAMA