Kuala lumpur: Gold futures on Bursa Malaysia Derivatives are anticipated to fluctuate between US$4,345 and US$4,375 per troy ounce next week. Bank Muamalat Malaysia Bhd chief economist Dr. Mohd Afzanizam Abdul Rashid noted that spot gold recently surpassed its weekly target range of US$4,250 to US$4,350 per troy ounce.

According to BERNAMA News Agency, the primary factor influencing this fluctuation was the weak NonFarm Payrolls data, which revealed 23,000 job losses in July and a continued decline in the Labour Force Participation Rate. Dr. Mohd Afzanizam highlighted that this week's moderate Consumer Price Index and Producer Price Index also suggested that a rate hike in the upcoming Federal Open Market Committee meeting in September was not a strong or certain possibility.

On a week-on-week basis, there have been notable movements in gold futures contracts. The spot-month August 2026 contract increased to US$4,358.7 per troy ounce from US$4,322.90 per troy ounce the previous Friday. Similarly, the September 2026 contract advanced to US$4,374.9 per troy ounce from US$4,335.80 per troy ounce. Meanwhile, the October 2026 contract remained steady at US$4,390.6 per troy ounce, and the November 2026 contract shifted to US$4,349.20 per troy ounce from US$4,390.6 per troy ounce. The December 2026 contract saw a rise to US$4,398.4 per troy ounce from US$4,349.20 per troy ounce.

The weekly trading volume experienced a decrease, dropping to 1,009 lots from 1,263 lots the previous week, while open interest also fell to 339 contracts from 477 contracts. Additionally, physical gold was fixed at US$4,437.0 per troy ounce during the London Bullion Market Association's afternoon fix on August 13, 2026.