Gold Futures Predicted to See Profit-Taking Ahead of US Inflation Data
Kuala Lumpur-based Quintex Intel global strategist Stephen Innes expects gold futures on Bursa Malaysia Derivatives to see some profit-taking early next week. This move is attributed to traders awaiting key United States inflation data, which could have a significant impact on the market.
Innes stated that the outlook for gold prices would heavily depend on the upcoming US Consumer Price Index and Producer Price Index reports. If these readings show higher-than-expected inflation rates, it may revive expectations of a Federal Reserve rate hike and put pressure back on gold.
Despite recent pullbacks, gold has shown remarkable resilience, thanks in part to strong central bank buying and robust Asian retail demand. However, the September 2026 contract for gold futures fell to $4,477.50 per troy ounce from $4,619.30 a week ago, while the October 2026 contract declined to $4,491.30 per troy ounce.
Weekly trading volume decreased to 881 lots from 1,713 lots a week ago, and open interest dropped to 357 contracts from 415 contracts.