Accra:Gold futures on Bursa Malaysia Derivatives are anticipated to trade between US$4,100 and US$4,300 per troy ounce next week, as the precious metal remains highly sensitive to United States economic data and broader monetary policy expectations.

According to BERNAMA News Agency, SPI Asset Management managing partner Stephen Innes noted that current options pricing suggests a market prepared for a movement of about 2.5 percent on either side of current levels, indicating a broad trading range around current prices.

Asian demand, particularly from China, is expected to remain subdued in the early part of next week due to the Golden Week holiday, which lasts until October 7. The temporary absence of Chinese buying, a key source of regional demand, could impact the broader gold market.

Currently, gold is influenced by softer near-term US Federal Reserve expectations and a firm US dollar coupled with elevated real yields. This situation may cause the market to remain two-way and range-bound rather than showing a strong directional trend, as explained by Innes.

On a week-on-week basis, several gold futures contracts showed a decline. The October 2026 contract fell to US$4,199.30 per troy ounce from US$4,308.30, the November 2026 contract decreased to US$4,216.10 from US$4,325.20, and the December 2026 contract dropped to US$4,232.80 from US$4,333.00. Meanwhile, the January 2027, February 2027, and April 2027 contracts all declined to US$4,232.80 per troy ounce from US$4,333.00 previously.

Additionally, weekly trading volume dipped to 815 lots from 1,256 lots a week earlier, while open interest reduced to 212 contracts from 222 contracts. Physical gold was priced at US$4,151.65 per troy ounce at the London Bullion Market Association's afternoon fix on October 1, 2026.