GOLD FUTURES LIKELY TO TRADE HIGHER NEXT WEEK

By Danni Haizal Danial Donald

KUALA LUMPUR, March 15 (Bernama) -- The gold futures market on Bursa Malaysia Derivatives is expected to trade higher next week.

SPI Asset Management managing director Stephen Innes said the gold price is anticipated to trade between US$2,970 and US$3,030 per troy ounce.

“I firmly believe we’ll crack the US$3,000 per troy ounce mark.

“The United States (US) President Donald Trump’s wave of tariffs and ongoing economic concerns are driving investors toward safe-haven assets,” he told Bernama.

Innes said markets are recalibrating the reality that growth concerns are taking centre stage over inflation fears, reinforcing gold’s role as the ultimate hedge.

“The equation for gold remains simple: higher tariffs equal higher uncertainty, and that fuels a stronger bid for bullion.

“With risk appetite fading and policymakers increasingly cornered, gold’s relentless rally may still have plenty of fuel left in the tank,” he added.

On a Friday-to-Friday basis, the spot-month March 2025 contract rose to US$2,999.60 per troy ounce from US$2,928.60 previously, while April 2025 increased to US$3,009.90 per troy ounce from US$2,938.40.

Meanwhile, the May 2025, June 2025 and August 2025 contracts surged to US$3,019.90 per troy ounce from US$2,946.80 last week. 

Volume increased to 419 lots this week from 251 lots last week, while open interest surged to 454 contracts from 140 contracts previously. 

According to the London Bullion Market Association’s afternoon fix on March 13, physical gold was priced at US$2,974.05 per troy ounce.

-- BERNAMA