Kuala lumpur: Gold futures on Bursa Malaysia Derivatives are expected to trade range-bound with an upward bias next week. Bank Muamalat Malaysia Bhd chief economist Dr. Mohd Afzanizam Abdul Rashid stated that the key catalyst would continue to be the United States interest rate outlook, as a rate hike is not yet a foregone conclusion.

According to BERNAMA News Agency, the uncertainty surrounding US interest rates remains significant, and the Federal Open Market Committee (FOMC) minutes will provide further clarity on the Federal Reserve's policy stance. The FOMC minutes are scheduled to be released on Thursday, July 9 (Kuala Lumpur time).

On a week-on-week basis, the spot-month July 2026 rose to US$4,183.40 per troy ounce on Friday from US$4,065.30 previously. The August 2026 contract increased to US$4,202.00 per troy ounce from US$4,088.10, and the September 2026 contract climbed to US$4,216.90 per troy ounce from US$4,092.60. Meanwhile, the October and December 2026 contracts were higher at US$4,236.00 per troy ounce compared with US$4,111.70 at the end of the previous week.

The weekly trading volume experienced a significant surge to 667 lots from 69 lots, while open interest rose to 392 contracts on Friday from 83 contracts a week earlier. In the physical market, gold was fixed at US$4,129.20 per troy ounce at the London Bullion Market Association's afternoon fix on July 2, 2026.