Gold Futures Prices Rise on Diminished Rate Hike Expectations

Kuala Lumpur, Malaysia - The price of gold futures on Bursa Malaysia Derivatives rose yesterday as expectations for a US Federal Reserve rate hike diminished.

The unexpectedly weak July US jobs report showed payrolls falling by 23,000, which reduced the likelihood of a Fed rate increase.

'Lower interest rate expectations tend to support gold by reducing the opportunity cost of holding the non-yielding asset,' said a dealer.

The spot-month August 2026 contract climbed to US$4,359.0 per troy ounce from US$4,322.90 on last Friday, while September 2026 increased to US$4,373.30 from US$4,335.80 previously.