Gold Futures Expected To Trade Lower With Bearish Bias Next Week

By Fatin Umairah Abdul Hamid

KUALA LUMPUR, Oct 24 (Bernama) -- Gold futures are expected to trade range-bound with a slight downward bias next week, said an analyst.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid told Bernama that spot prices would linger around US$4,000 to US$4,050 per troy ounce next week.

Meanwhile, RHB Investment Bank (RHB IB) expects the gold market to trade bearish next week as the US COMEX Gold printed a long bearish candlestick on Thursday and closed softer at US$4,060.40.

“To manage trading risks, the stop-loss threshold is placed at US$4,300,” RHB IB said in a note.

On a week-on-week basis, the October 2026 contract fell to US$4,027.6 per troy ounce from US$4,187.30, the November 2026 contract was down to US$4,043.6 from US$4,203.70, and the December 2026 contract fell to US$4,059.2 from US$4,220.20.

Meanwhile, the January 2027, February 2027 and April 2027 contracts all slipped to US$4,059.2 per troy ounce from US$4,220.20 previously.

Weekly trading volume rose to 503 lots from 365 a week earlier, while open interest inched up to 163 contracts from 149 previously.

Physical gold was fixed at US$4,048.25 per troy ounce at the London Bullion Market Association's afternoon fixing on Oct 22, 2026.

-- BERNAMA