GOLD FUTURES EXTEND GAINS, ON TRACK TO HIT US$3,800 LEVEL NEXT WEEK

By Abdul Hamid A Rahman

KUALA LUMPUR, Sept 27  (Bernama) -- Gold futures on Bursa Malaysia Derivatives may breach the US$3,800 mark next week, underpinned by persistent safe-haven demand and anticipation surrounding key United States labour data.

SPI Asset Management managing director Stephen Innes said the rally is notable as it comes despite a firmer dollar, with continued exchange-traded fund (ETF) inflows underscoring gold’s appeal as a core allocation.

“All eyes are on Friday’s US Nonfarm Payrolls, with forecasts between 20,000 and 80,000 jobs. A weak outcome could reset the Federal Reserve’s expectations, weigh on the dollar and give bullion fresh momentum.

“Until then, gold stays well bid, less tied to the dollar’s moves and positioned to break higher if sentiment shifts,” he added.

On a weekly basis, the spot-month September 2025 contract improved to US$3,750.30 per troy ounce from US$3,660.20 last week.

The October 2025 contract strengthened to US$3,765.40 per troy ounce from US$3,676.60, and the November 2025 contract increased to US$3,783.6 per troy ounce from US$3,693.40 previously.

The December 2025, February 2026, April 2026 and June 2026 contracts all settled higher at US$3,803.5 per troy ounce compared with US$3,714.30 per troy ounce last week.

Weekly trading volume rose to 2,310 lots from 1,388 lots last week, while open interest eased to 658 contracts from 807 contracts previously.

Physical gold stood at US$3,730.75 per troy ounce based on the London Bullion Market Association’s afternoon fix on Sept 25, 2025.

-- BERNAMA