Gold Futures Climb on Weaker Dollar and Yield Concerns

The gold futures on Bursa Malaysia Derivatives ended higher on August 21, influenced by a weaker US dollar and efforts to keep longer-term yields low. The Treasury Department in the United States announced that it may increase government debt buybacks over the next few months. This move aims to target sensitive longer-duration segments of the market.

The spot-month August 2026 contract rose to $4,586.40 per troy ounce from Thursday's price of $4,494.50 per troy ounce. The September 2026 contract also increased to $4,602.90 per troy ounce from $4,511.00 per troy ounce previously.

The Treasury Department had initially stated that it would at least double government debt buybacks over the next few months, focusing on the sensitive longer-duration segment of the market. US Treasury Secretary Scott Bessent mentioned that he may further increase the government's repurchases of Treasuries.