Gold Rebounds on COMEX Performance, But Remains Under Pressure
Gold futures on Bursa Malaysia Derivatives closed higher on Friday, snapping four consecutive days of losses. The rebound was driven by a better performance on the US Commodity Exchange (COMEX). Despite the gain, gold remains under pressure from rising global bond yields.
According to Quintex Intel's global strategist Stephen Innes, 'With the US 10-year yield above 5.0 per cent, this is a toxic backdrop for an asset that pays no interest.'
The spot-month September 2026 contract increased to $4,292.40 per troy ounce from $4,263.90 on Thursday. Other contracts also rose, including October 2026, November 2026, December 2026, February 2027, and April 2027.
However, trading volume dropped to 162 lots from 268 on Thursday, while open interest went down to 222 contracts from 328 previously.