GOLD FUTURES LIKELY TO TRADE BETWEEN US$4,800 AND US$4,900 NEXT WEEK

By Fatin Umairah Abdul Hamid

KUALA LUMPUR, Feb 7 (Bernama) -- Gold futures on Bursa Malaysia Derivatives are expected to trade at US$4,800-US$4,900 an ounce next week, an economist said.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid attributed the recent market correction to gold prices retreating from an all-time high of US$5,500.

“It appears gold prices are attempting to establish a new support level that reflects the prevailing supply and demand conditions,” he told Bernama.

On Wednesday, IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said the precious metal was further supported by a softer US dollar and improving global risk sentiment, as bargain hunting emerged following last week’s sharp sell-off from record highs.

On a week-on-week basis, February 2026 eased to US$4,877.9 per troy ounce from US$5,062.60 per troy ounce, and March 2026 decreased to US$4,895.4 per troy ounce from US$5,080.90 per troy ounce. 

April 2026 declined to US$4,912.20 per troy ounce from US$5,097.70 per troy ounce previously.

The June and August 2026 contracts also settled lower at US$4,912.2 per troy ounce versus US$5,097.70 per troy ounce previously.

Weekly trading volume fell to 149 lots from 1,705 lots a week earlier, while open interest slid to 151 contracts from 91 contracts.

The price of physical gold was fixed at US$4,847.25 per troy ounce at the London Bullion Market Association afternoon fix on Feb 5, 2026. 

-- BERNAMA