Kuala lumpur: Gold futures on Bursa Malaysia Derivatives are expected to trade range-bound with a slight upward bias next week ahead of key economic data releases.

According to BERNAMA News Agency, SPI Asset Management managing partner Stephen Innes indicated that the upcoming United States (US) non-farm payrolls (NFP) report will be crucial in shaping expectations for a potential US interest rate hike. Innes stated, "The upcoming NFP report is expected to confirm that both the US consumer and labour markets are cooling sufficiently to make another US Federal Reserve interest rate hike appear less credible."

He further noted that if next week's payrolls reinforce this divergence, the US dollar could weaken further, US Treasury yields may ease again, and the precious metal could find some catalyst to extend its recovery.

On a week-on-week basis, the spot-month June 2026 contract decreased to US$4,050.90 per troy ounce yesterday from US$4,170.80 at the previous Friday's close. Similarly, the July 2026 contract dropped to US$4,065.30 per troy ounce from US$4,184.90 last week, while the August 2026 contract fell to US$4,088.10 per troy ounce from US$4,205.50 previously.

The September 2026 contract also saw a decline to US$4,092.60 per troy ounce from US$4,210.00 the previous Friday, with the October and December 2026 contracts closing lower at US$4,111.70 per troy ounce from US$4,229.10 previously.

Weekly trading volume increased to 69 lots from 47 lots, while open interest eased to 83 contracts from 87 contracts a week earlier. Physical gold was fixed at US$4,001.80 per troy ounce at the London Bullion Market Association's afternoon fix on June 25, 2026.