Kuala Lumpur:Gold futures on Bursa Malaysia Derivatives are anticipated to trade between US$4,160 and US$4,180 per troy ounce next week. This expectation comes as markets predict the US Federal Reserve will maintain steady interest rates in October following weak US jobs data, according to an analyst.

According to BERNAMA News Agency, Dr. Mohd Afzanizam Abdul Rashid, chief economist at Bank Muamalat Malaysia Bhd, indicated that this scenario might offer some support to the price of the precious metal. However, he noted that these narratives remain unstable due to the strong US economy and concerns about the fiscal position in European countries, particularly in France, along with political uncertainties in Spain. As a result, there is increased demand for the US dollar, leading to a forecast of gold prices trading within a tight range.

On a week-on-week basis, several gold futures contracts experienced a decline. The October 2026 contract fell to US$4,196.10 per troy ounce from US$4,199.30, the November 2026 contract decreased to US$4,212.40 from US$4,216.10, and the December 2026 contract dropped to US$4,228.90 from US$4,232.80. Additionally, the January 2027, February 2027, and April 2027 contracts all slipped to US$4,228.90 per troy ounce from US$4,232.80 previously.

The weekly trading volume decreased to 547 lots from 815 lots in the previous week, and open interest declined to 161 contracts from 212 contracts. Physical gold was set at US$4,124.55 per troy ounce at the London Bullion Market Association's afternoon fix on October 9, 2026.