Kuala lumpur: Gold futures on Bursa Malaysia Derivatives are projected to maintain robust support next week as investors evaluate the ongoing sustainability of reduced geopolitical tensions in West Asia. They are also on the lookout for key economic data from the United States (US) that could influence the US Federal Reserve's (Fed) interest rate decisions.

According to BERNAMA News Agency, SPI Asset Management managing partner Stephen Innes indicated that bullion prices are expected to stay steady, provided the 60-day ceasefire between the US and Iran remains intact and there is movement towards a more comprehensive agreement. He noted that the upcoming US Consumer Price Index (CPI) and nonfarm payrolls (NFP) reports are likely to be the next significant factors impacting gold prices.

Innes mentioned that softer inflation and employment data could reinforce expectations of potential interest rate cuts by the Fed in the upcoming months, a scenario that typically favors gold. On a week-to-week comparison, the spot-month May 2026 contract saw a decline, settling at US$4,525.80 per troy ounce from US$4,531.60 per troy ounce recorded last Friday. Meanwhile, the June 2026 contract increased to US$4,553.30 per troy ounce from US$4,548.60 per troy ounce.

Contracts for July, August, and October 2026 all witnessed marginal increases, closing at US$4,567.00 per troy ounce compared to US$4,562.80 per troy ounce in the previous week. The weekly trading volume experienced a reduction, decreasing to 66 lots from 120 lots, while open interest saw an increase, rising to 98 contracts from 89 contracts a week earlier.

In the physical market, gold was fixed at US$4,419.45 per troy ounce at the London Bullion Market Association's afternoon fix on May 28, 2026.