Kuala lumpur: Gold futures on Bursa Malaysia Derivatives concluded lower today after the release of limited US economic data, which led to a reduction in the odds of a December Federal Reserve (Fed) rate cut from approximately 50 percent to around 30 percent.

According to BERNAMA News Agency, SPI Asset Management managing partner Stephen Innes noted that front-end yields increased as traders adjusted their expectations for near-term monetary easing. Innes explained that this scenario created a mechanical headwind for gold, which typically declines when economic growth appears stronger and the Fed’s policy path seems less supportive of rate cuts.

The overall outlook for gold remains consistent, with investors continuing to focus on a potential easing cycle in 2026. Innes highlighted ongoing concerns over labor-market softness and private-credit stress, which provide a strategic bid under the metal despite the current market conditions.

The limited economic data from the US suggests a higher likelihood of the Fed maintaining current interest rates, a factor that generally contributes to lower gold prices. The spot-month November 2025 contract decreased to US$4,063.30 per troy ounce from US$4,096.40 per troy ounce, while the December 2025 contract fell to US$4,080.60 per troy ounce from US$4,113.70 per troy ounce. Meanwhile, the January 2026 contract eased to US$4,098.10 per troy ounce from US$4,131.70 per troy ounce on Tuesday.

Furthermore, the February, April, and June 2026 contracts also saw declines, settling at US$4,114.50 per troy ounce from US$4,148.00 per troy ounce previously. The trading volume increased to 59 lots from 44 lots yesterday, with open interest rising to 96 contracts from 87 contracts.

Physical gold was priced at US$4,126.95 per troy ounce, as per the London Bullion Market Association’s afternoon fix on November 19, 2025.