Kuala Lumpur: Gold futures on Bursa Malaysia Derivatives are anticipated to trend higher next week, with potential gains projected in the 2.5 to 3.0 percent range, according to an analyst.

According to BERNAMA News Agency, SPI Asset Management managing partner Stephen Innes emphasized that the forthcoming 48 to 72 hours will be crucial, with gold prices hinging on whether tensions in the Middle East escalate or ease. He noted that even if geopolitical concerns subside, gold is likely to remain supported by rising expectations of a US Federal Reserve policy shift, particularly if weak US labor data strengthens the disinflation narrative. “Given the current volatility, I anticipate gold will trade within a broader range than usual,” he stated.

On a Friday-to-Friday basis, the spot month June 2025 contract increased to US$3,430.2 per troy ounce from US$3,371.80, and the July 2025 contract rose to US$3,438.7 per troy ounce from US$3,371.80 per troy ounce. The August 2025, September, and October 2025 contracts all strengthened to US$3,458.2 per troy ounce from US$3,393.80.

Trading volume increased to 260 lots from 241 lots recorded in the preceding week, while open interest reduced to 50 contracts from 122 contracts. According to the London Bullion Market Association’s afternoon fix on June 12, physical gold was priced at US$3,391.40 per troy ounce.