Kuala lumpur: Gold futures are projected to remain well-supported next week, with inflationary concerns looming as oil prices are predicted to remain high.

According to BERNAMA News Agency, Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid highlighted that despite a potential truce between the United States and Iran, supply disruptions and damage to oil and gas infrastructure may keep crude prices elevated.

Mohd Afzanizam noted that spot gold prices have increased since the ceasefire, with the US Dollar Index (DXY) hovering below 100 points. The primary concern is inflation, as oil prices are anticipated to stay elevated despite the possible truce between the US and Iran. He emphasized that damage to oil and gas infrastructure will take time to repair, potentially maintaining high oil prices and exerting upward pressure on inflation.

On a week-on-week basis, the spot-month April 2026 contract rose to US$4,868.00 per troy ounce on Friday, compared to US$4,768.20 per troy ounce in the previous week. The May 2026 contract improved to US$4,836.20 per troy ounce from US$4,788.70 per troy ounce. Additionally, the June, July, and August 2026 contracts increased to US$4,854.70 per troy ounce from US$4,807.30 per troy ounce in the preceding week.

Weekly trading volume decreased to 60 lots from 89 lots, while open interest slipped to 87 contracts on Friday from 95 contracts a week earlier. Physical gold was fixed at US$4,793.60 per troy ounce at the London Bullion Market Association afternoon fix on April 16, 2026.