CENTRAL BANK BUYING SET TO BOOST GOLD FUTURES NEXT WEEK

By Fatin Umairah Abdul Hamid

KUALA LUMPUR, Nov 1 (Bernama) -- Gold futures on Bursa Malaysia Derivatives are expected to trade higher next week, supported by continued buying by global central banks despite elevated prices.

SPI Asset Management managing partner Stephen Innes said central banks continued to build their gold reserves through the third quarter, underscoring how persistent political and economic uncertainty has kept the precious metal anchored as a strategic hedge.

“Their move reflects the classic ‘down the elevator, up the stairs’ pattern seen when markets are forced to recalibrate expectations in real time,” he told Bernama.

Week-on-week, spot-month October 2025 contract slid to US$4,005.80 per troy ounce from US$4,074.10 on Friday the previous week, the November 2025 contract fell to US$4,022 per troy ounce versus US$4,090.80 earlier, and the December 2025 contract decreased to US$4,039.30 per troy ounce against US$4,107.40 a week ago.

The January 2026 contract dipped to US$4,056.30 per troy ounce from US$4,124.40 a week earlier, while the February 2026, April 2026, and June 2026 contracts all settled weaker at US$4,072.20 per troy ounce versus US$4,140.30 at the end of last week.

Weekly trading volume rose to 1,953 lots from 1,798 lots last week, while open interest eased to 300 contracts from 346 contracts previously.

Physical gold was priced at US$3,994.15 per troy ounce, according to the London Bullion Market Association afternoon fix on Oct 30, 2025.

-- BERNAMA