Gold Futures Prices Slide Amid US Rate Concerns
Kuala Lumpur, Malaysia - The price of gold futures on Bursa Malaysia Derivatives declined yesterday due to concerns that US interest rates may remain higher for longer despite softer-than-expected inflation data. According to Stephen Innes, global strategist at Quintex Intel, the lower US consumer price index (CPI) reduced expectations of a near-term rate hike by the Federal Open Market Committee, which could support demand for gold.
However, investors remained focused on the outlook for US interest rates, causing the bullion to slip below $4,400 per troy ounce. Innes noted that the US dollar recovered virtually all of its post-CPI losses, indicating that traders have already moved past the inflation print and are looking towards the 48th Jackson Hole Economic Policy Symposium at the end of this month for the next meaningful policy cue.
At the close, the spot-month August 2026 contract fell to $4,388.80 per troy ounce from $4,424.20 per troy ounce on Wednesday, while the September 2026 contract declined to $4,405.00 per troy ounce from $4,445.90 per troy ounce previously.