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Commodity futures

Gold Futures on Bursa Malaysia Derivatives Expected to Trend Higher

Strategic Insights

— 1 min read

Gold futures on Bursa Malaysia Derivatives are likely to maintain their upward momentum within a stable range of US$3,300 to US$3,350 next week, driven by ongoing geopolitical tensions. Although rising US Treasury yields and a stronger greenback may exert pressure on the metal, persistent geopolitical risk is expected to support the market. Managing partner of SPI Asset Management, Stephen Innes, emphasized the potential for sudden shifts in sentiment due to trade negotiations breakthroughs or breakdowns.

Key Takeaways:

  • Gold futures on Bursa Malaysia Derivatives are expected to trend higher within a stable range of US$3,300 to US$3,350 next week, supported by persistent geopolitical risk.
  • Managing partner of SPI Asset Management, Stephen Innes, believes that geopolitical risk premia are once again influencing market sentiment, despite rising US Treasury yields and a stronger greenback.
  • The spot-month July 2025 contract fell to US$3,346.20 per troy ounce from US$3,351.30, while the August 2025 contract eased to US$3,362.70 from US$3,366.40.
  • The September 2025 contract declined to US$3,377.60 from US$3,381.30, whereas the October and December 2025 contracts rose to US$3,397.50 per troy ounce from US$3,400.10.
  • Weekly trading volume edged up to 139 lots from 133 lots in the previous week, and open interest slipped to 72 contracts from 84.
  • Physical gold was priced at US$3,312.60 per troy ounce, based on the London Bullion Market Association's afternoon fix on July 10, 2025.
  • Stephen Innes cautions that a sudden breakthrough or breakdown in trade negotiations, particularly with the European Union (EU), could swiftly shift sentiment.

Statistics:

  • US$3,300 to US$3,350: The stable range within which gold futures on Bursa Malaysia Derivatives are expected to trend next week.
  • 139 lots: The weekly trading volume, up from 133 lots in the previous week.
  • 72 contracts: The current open interest, down from 84 in the previous week.
  • US$3,312.60 per troy ounce: The price of physical gold, based on the London Bullion Market Association's afternoon fix on July 10, 2025.
  • US$3,346.20 per troy ounce: The price of the spot-month July 2025 contract.
  • 133 lots: The weekly trading volume in the previous week.
  • 84: The open interest in the previous week.

Sources:

  • BERNAMA News Agency (12 Jul 2025)
  • SPI Asset Management
  • London Bullion Market Association

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