Gold Futures Surge as Softer US Data Eases Bond Yield Pressure
Gold futures on Bursa Malaysia Derivatives closed higher today, tracking a recovery in gold prices globally. According to Quintex Intel global strategist Stephen Innes, softer US economic data overnight helped ease upward pressure on bond yields and allowed gold to move back above $4,400 per troy ounce.
Innes noted that weaker US economic data, including manufacturing data and moderate jobs reports, contributed to the relief from recent rises in US Treasury yields. The focus now shifts to Friday's US payrolls report, which will be important in determining whether the recent hawkish repricing of expectations for the Federal Reserve continues or begins to reverse.
The spot-month September 2026 contract rose to $4,447.70 per troy ounce from $4,321.7 per troy ounce yesterday, while the October 2026 contract increased to $4,462.20 per troy ounce from $4,335.8 per troy ounce.
Trading volume jumped to 335 lots from yesterday's 127 lots, and open interest climbed to 387 contracts from 184 contracts previously. Physical gold was fixed at $4,382.25 per troy ounce at the London Bullion Market Association's afternoon fix on September 2, 2026.