Gold Futures Rebound from Four-Day Losing Streak on COMEX Boost
Gold futures on Bursa Malaysia Derivatives rose to close higher on Friday, ending a four-day losing streak. The better performance on the US Commodity Exchange (COMEX) boosted gold prices.
Despite this rebound, global strategist Stephen Innes from Quintex Intel noted that the week has been tumultuous for gold, with bullion under pressure from rising global bond yields. He highlighted that the surge in US 10-year yields above 5% creates a challenging environment for an asset like gold, which pays no interest.
The September 2026 contract increased to $4,292.40 per troy ounce from $4,263.90 on Thursday, while other contracts also saw price hikes. The November 2026 contract rose to $4,325.20, and December 2026, February 2027, and April 2027 contracts all increased.