Gold Futures Forecast to Trade Narrowly Next Week

Gold futures on Bursa Malaysia Derivatives are expected to trade between US$4,345 and US$4,375 per troy ounce next week.

The prediction comes from Dr. Mohd Afzanizam Abdul Rashid, chief economist at Bank Muamalat Malaysia Bhd, who stated that the main driver behind gold's recent price movement was weak NonFarm Payrolls data.

The spot-month August 2026 contract increased to US$4,358.7 per troy ounce from US$4,322.90 per troy ounce on the previous Friday, while the September 2026 contract advanced to US$4,374.9 per troy ounce from US$4,335.80 per troy ounce.

The weekly trading volume fell to 1,009 lots from 1,263 lots last week, and open interest dwindled to 339 contracts from 477 contracts a week earlier.