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Gold Futures Decline as US Job Report Sparks Rate Hike Worries

Kuala lumpur: Gold futures on Bursa Malaysia Derivatives concluded the trading session lower today, aligning with the drop observed in COMEX due to heightened concerns about a potential United States rate hike following a robust jobs report.

According to BERNAMA News Agency, the spot-month June 2026 contract saw a decrease to US$4,296.30 per troy ounce from the previous Friday's close of US$4,484.50 per troy ounce. The July 2026 contract also experienced a decline, dropping to US$4,312.70 per troy ounce from US$4,499.20, while the August 2026 contract fell to US$4,327.40 per troy ounce, down from US$4,513.90.

The September 2026 contract contracted to US$4,331.90 per troy ounce from US$4,518.40 last Friday, and the October 2026 contract reduced to US$4,351.0 per troy ounce from US$4,522.90 previously.

Trading volume increased significantly, rising to 27 lots compared to 11 last Friday, and open interest also saw a rise to 78 contracts from 60 contracts previously. Meanwhile, physical gold was fixed at US$4,365.15 per troy ounce at the London Bullion Market Association's afternoon fix on June 5, 2026.