Gold Futures Forecast to Reach New Heights Amid Fears of Excessive US Debt
Gold futures on Bursa Malaysia Derivatives are expected to break US$4,600 per troy ounce next week, according to global strategist Stephen Innes of Quintex Intel.
Innes attributed this expectation to concerns over the US national debt and the credibility of its fiscal policies, which have grown due to the country's debt surpassing US$40 trillion for the first time.
The US Federal Reserve will also be releasing key economic indicators in the coming week, including the personal consumption expenditures (PCE) inflation report on August 26 and the Jackson Hole Symposium on August 27-29. Investors will be watching these releases closely for clues on the Fed's policy decision at its upcoming meeting on September 15-16.
On a weekly basis, gold futures have shown significant gains, with the spot-month August 2026 contract increasing to US$4,586.40 per troy ounce from US$4,358.70 last week, and the December 2026 contract rising to US$4,627.70 per troy ounce from US$4,398.40.