GOLD FUTURES END HIGHER ON EXPECTATIONS OF DOVISH FED POLICY

By Durratul Ain Ahmad Fuad

KUALA LUMPUR, Nov 19 (Bernama) -- Gold futures on Bursa Malaysia Derivatives ended higher today as investors expect upcoming US economic data to push the Federal Reserve (Fed) toward a more dovish stance in December, said SPI Asset Management managing partner Stephen Innes.

Innes said that gold investors buy when they expect upcoming US economic data to push the Fed toward a more hawkish stance, which is partly why the metal is moving higher.

However, he added that the current bid in gold looks less like a pure Fed-odds trade and more like a hedge against mounting stress in US private credit, where there are mounting concerns around shadow lending and potential credit events.

“In that sense, investors are using gold as insurance against a broader financial-stability scare, not just as a directional bet on the next move in policy rates,” he told Bernama. 

The spot-month November 2025 contract rose to US$4,096.40 per troy ounce from US$4,039.50 per troy ounce, December 2025 went up to US$4,113.70 per troy ounce from US$4,056.70 per troy ounce, and January 2026 gained to US$4,131.70 per troy ounce from US$4,074.70 per troy ounce on Tuesday.

The February, April, and June 2026 contracts also settled higher at US$4,148.0 per troy ounce, up from US$4,090.20 per troy ounce previously.

Trading volume advanced to 44 lots from 31 lots yesterday, while open interest strengthened to 87 contracts from 68 contracts.

Physical gold was priced at US$4,060.85 per troy ounce, according to the London Bullion Market Association afternoon fix on Nov 18, 2025.

-- BERNAMA