Kuala lumpur: The gold futures contract on Bursa Malaysia Derivatives is projected to experience an upswing next week in anticipation of the United States non-farm payrolls report set for release next Friday.

According to BERNAMA News Agency, SPI Asset Management managing director Stephen Innes indicated that the market is preparing for a potentially softer jobs report, which may strengthen the argument for lower interest rates and provide additional support for gold. Innes commented, "We expect gold to move higher next week as questions around the Federal Reserve's independence and the prospect of a more dovish board composition weigh on the US dollar and underpin bullion."

Innes further elaborated on the price movements, stating, "Into next week, we see initial support around US$3,400 per troy ounce and resistance up at US$3,435 per troy ounce." On a weekly basis, the spot-month August 2025 gold futures contract saw an increase to US$3,407.50 per troy ounce on Friday, up from US$3,327.30 the previous week. Similarly, the September 2025 contract rose to US$3,420.40 per troy ounce from US$3,332.70.

The October 2025 contract also showed gains, strengthening to US$3,449.90 per troy ounce from US$3,362.20 the previous Friday, while the November 2025 contract increased to US$3,466.70 per troy ounce from US$3,379.00.

Additionally, the December 2025, February 2026, and April 2026 contracts all settled higher at US$3,487.10 per troy ounce, compared to US$3,399.40 per troy ounce previously. Despite these increases, weekly trading volume decreased to 43 lots from 53 lots last week, and open interest declined to 33 contracts from 56 contracts. Physical gold was priced at US$3,407.65 per troy ounce based on the London Bullion Market Association's afternoon fix on August 28.