GOLD FUTURES LIKELY TO REMAIN VOLATILE NEXT WEEK

KUALA LUMPUR, April 26 (Bernama) -- Gold futures on Bursa Malaysia Derivatives are expected to remain volatile next week due to the global economic uncertainty and shifting geopolitical dynamics.

SPI Asset Management managing director Stephen Innes said the precious metal is likely to trade within a wide range as investors weigh mixed signals from major economies.

“Next week could see more of the same volatility. With ASEAN leaders preparing for potential trade deals with the United States and China showing diplomatic flexibility, the narrative may continue to lean toward cautious optimism.

“If that continues, gold could struggle to regain strong upside momentum in the near term. Given the unpredictable nature of global trade negotiations, the downside may also be limited.

“One-week implied volatility currently stands around 6.2 per cent, suggesting a projected trading band of roughly US$90 based on spot prices near US$3,300,” he told Bernama.

Innes said a reasonable expected range would be between US$3,270 and US$3,360 per troy ounce next week, reflecting both ongoing uncertainty and the market’s rapid reaction to policy signals.

On a Friday-to-Friday basis, the April spot month gained to US$3,307.20 per troy ounce from US$3,305.20 per troy ounce last week, while May 2025 added to US$3,316.20 per troy ounce from US$3,315.60 per troy ounce.

The June, July and August 2025 contracts each increased to US$3,332.80 per troy ounce from US$3,330.30 per troy ounce last week.

Volume fell to 871 lots from 1,984 lots previously, while open interest declined to 88 contracts from 175 contracts.

According to the London Bullion Market Association’s afternoon fix on April 24, physical gold was priced at US$3,314.75 per troy ounce.

-- BERNAMA