By Zufazlin Baharuddin
KUALA LUMPUR, Feb 28 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives is expected to see cautious trading next week, as traders are waiting on fresh leads and developments related to the US-Iran nuclear talks.
The US and Iran are set to hold another round of talks in Vienna next week after US and Iranian officials met in Geneva, Switzerland, recently for a third round of the talks, which ended without a deal.
SPI Asset Management managing partner Stephen Innes told Bernama that any escalation over the weekend could see gold spike aggressively at the start of next week, as it remains highly sensitive to geopolitical headlines.
On a week-on-week basis, February 2026 rose to US$5,174.10 per troy ounce from US$5,046.30 per troy ounce, and March 2026 increased to US$5,200.30 per troy ounce from US$5,063.30 per troy ounce.
April and May 2026 improved to US$5,218.50 per troy ounce from US$5,081.10 per troy ounce previously.
The June and August 2026 contracts also settled higher at US$5,252.40 per troy ounce versus US$5,115.0 per troy ounce previously.
Weekly trading volume strengthened to 56 lots from 26 lots a week earlier, while open interest increased to 116 contracts from 98 contracts.
The price of physical gold was fixed at US$5,167.35 per troy ounce at the London Bullion Market Association afternoon fix on Feb 26, 2026.
-- BERNAMA
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