Malaysia Gold Futures Predicted to Trade Upward Next Week

Gold futures on Bursa Malaysia Derivatives are expected to trade with an upward bias next week, according to Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid.

The recent decline in US Treasury yields could potentially provide further upside for spot gold prices, which may attempt to break the US$4,400 per ounce level next week.

Crude oil prices are expected to remain stable and skewed to the downside, supporting the upward bias of gold futures.