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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 continue their upward trend, despite a stable range of US$3,320 to US$3,380, according to Stephen Innes, managing partner of SPI Asset Management. He cites continuous central bank accumulation, geopolitical overhangs, and the fear of systemic debt stress as key factors influencing market sentiment. The new August 2025 contract reached a high of US$3,378.3 per troy ounce, while the September 2025 contract improved to US$3,384.20 per troy ounce. Physical gold was priced at US$3,318.50 per troy ounce on July 17, 2025.

Key Takeaways:

  • Gold futures on Bursa Malaysia Derivatives are expected to trend higher, supported by continuous central bank accumulation and geopolitical overhangs.
  • Managing partner of SPI Asset Management, Stephen Innes, attributes the upward trend to fear of systemic debt stress and residual artificial intelligence-fueled dollar resilience.
  • The new August 2025 contract rose to US$3,378.3 per troy ounce from US$3,362.70, while the September 2025 contract improved to US$3,384.20 per troy ounce from US$3,377.60.
  • The October 2025, December 2025, and February 2026 contracts also increased to US$3,413.40 per troy ounce from US$3,397.50.
  • Weekly trading volume edged up to 199 lots from 139 lots in the previous week.
  • Open interest slipped to 68 contracts from 72 contracts.
  • Physical gold was priced at US$3,318.50 per troy ounce based on the London Bullion Market Association's afternoon fix on July 17, 2025.

Statistics:

  • Trading volume increased to 199 lots from 139 lots in the previous week, a 43% increase.
  • Open interest slipped to 68 contracts from 72 contracts, a 6% decrease.
  • The August 2025 contract rose by US$15.60 per troy ounce to US$3,378.3.
  • The September 2025 contract improved by US$6.60 per troy ounce to US$3,384.20.

Sources:

  • BERNAMA News Agency, "Gold futures on Bursa Malaysia Derivatives expected to trend higher" (July 19, 2025)
  • London Bullion Market Association's afternoon fix on July 17, 2025.

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