Kuala lumpur: Gold futures on Bursa Malaysia Derivatives closed lower today, tracking the weaker performance of gold in the global market.

According to BERNAMA News Agency, global strategist Stephen Innes from Quintex Intel highlighted that investors are now focused on the upcoming US non-farm payrolls report, which is set to be released on Friday. This report is critical for gold investors seeking a softer employment reading that could counterbalance expectations of a potential Federal Reserve rate hike in September, potentially providing some relief for bullion.

Innes explained that gold initially dropped below US$4,300 per troy ounce during Asian trading. This decline extended the hawkish Federal Reserve repricing that began in London the previous day and subsequently spread across global bond markets, driving yields higher. Such an environment is typically unfavorable for gold, as it is a non-yielding asset. However, Innes noted that buyers have started to re-enter the market, with gold appearing to stabilize around US$4,325 per troy ounce, indicating some underlying demand remains.

Additionally, Innes pointed out that a stronger US dollar has also reduced momentum from the debasement trade, which had shown signs of resurgence last week. At the close of trading, the spot-month September 2026 contract fell to US$4,321.7 per troy ounce from US$4,385.70 per troy ounce the previous day. Similarly, the October 2026 contract edged down to US$4,335.8 per troy ounce from US$4,401.9 per troy ounce.

The November 2026 contract saw a decrease to US$4,353.20 per troy ounce from US$4,417.80 per troy ounce, while the December 2026, February 2027, and April 2027 contracts slipped to US$4,361.0 per troy ounce from US$4,425.60 per troy ounce. Trading volume increased to 127 lots from 117 lots the day before, while open interest rose to 184 contracts from 164 contracts previously. Physical gold was fixed at US$4,353.15 per troy ounce during the London Bullion Market Association's afternoon fix on September 1, 2026.