Kuala lumpur: Gold futures on Bursa Malaysia Derivatives are expected to be well supported into next week and trend higher within a stable range of US$3,320 to US$3,380, barring a sharp reversal in bond market sentiment, said SPI Asset Management managing partner Stephen Innes. He noted that continuous central bank accumulation, geopolitical overhangs, and the slow-burn fear of systemic debt stress all influence market sentiment.

According to BERNAMA News Agency, Innes highlighted that the Japan-driven tail risk and residual artificial intelligence-fueled dollar resilience play significant roles in the market dynamics. A break above US$3,380 due to real bond stress could potentially open the door to higher ground.

On a weekly basis, the new August 2025 contract rose to US$3,378.3 per troy ounce from US$3,362.70. Similarly, the September 2025 contract improved to US$3,384.20 per troy ounce from US$3,377.60. The October 2025, December 2025, and February 2026 contracts also saw increases, reaching US$3,413.40 per troy ounce from US$3,397.50 a week earlier.

Weekly trading volume edged up to 199 lots from 139 lots in the previous week, while open interest slipped to 68 contracts from 72 contracts. Physical gold was priced at US$3,318.50 per troy ounce based on the London Bullion Market Association’s afternoon fix on July 17, 2025.