Gold Futures Expected To Trade Lower Next Week Amid Volatility In Global Markets
By Danni Haizal Danial Donald
KUALA LUMPUR, Nov 7 (Bernama) -- Gold futures are expected to trade lower next week, amid continued volatility in global markets.
SPI Asset Management managing partner Stephen Innes said the precious metal could trade between US$3,975 and US$4,175 per troy ounce.
“Crude oil prices remain a key variable. If crude oil continues to climb while equities remain under pressure, gold could struggle to find its footing.
“However, if equity weakness starts to feed into less hawkish US Federal Reserve expectations, the precious metal could find buyers returning,” he told Bernama.
On a week-on-week basis, the November 2026 contract rose to US$4,087.60 per troy ounce from US$4,003.00, and the December 2026 contract increased to US$4,103.20 per troy ounce from US$4,017.90.
Meanwhile, the January 2027, February 2027, April 2027 and June 2027 contracts appreciated to US$4,104.30 per troy ounce from US$4,019 previously.
Weekly trading volume rose to 591 lots from 341 the previous week, while open interest grew to 177 contracts from 65.
Physical gold was fixed at US$4,112.85 per troy ounce at the London Bullion Market Association’s afternoon fixing on Nov 5, 2026.
-- BERNAMA