Gold Futures Predicted to Hover at $4,050-$4,100 Next Week

The gold futures market on Bursa Malaysia Derivatives is expected to hover around $4,050-$4,100 per troy ounce next week, with an upward bias. This prediction comes from Dr Mohd Afzanizam Abdul Rashid, chief economist at Bank Muamalat Malaysia Bhd.

The market sentiment will likely be guided by key US economic data releases and their implications for the Federal Reserve's interest rate outlook. The coming week will be 'data-heavy' in the US, with several key indicators on business activity and the labor market scheduled for release, including the Institute for Supply Management indices, the Job Openings and Labour Turnover Survey, nonfarm payrolls, and the unemployment rate.

On a week-on-week basis, the spot-month July 2026 contract eased to $4,052.20 per troy ounce on Friday from $4,054.50 per troy ounce last week, while the August 2026 contract edged down to $4,067.90 per troy ounce from $4,074.20 per troy ounce.