Kuala lumpur: Gold futures on Bursa Malaysia Derivatives are expected to breach US$4,600 per troy ounce next week.

According to BERNAMA News Agency, Quintex Intel global strategist Stephen Innes stated that gold should remain supported as investors seek protection against growing concerns over US national debt and the credibility of its fiscal policies. This comes after reports that US debt has surpassed US$40 trillion for the first time.

Stephen Innes explained that bullion is becoming a clear release valve for concerns over excessive government debt and the risk that policymakers might eventually respond through lower real yields, financial repression, or renewed balance-sheet support. In such an environment, gold remains one of the best hedges against a broader erosion of fiscal credibility across developed markets.

Next week, market players are also eyeing fresh leads from the US personal consumption expenditures (PCE) inflation report, which will be released on August 26, as well as the Jackson Hole Symposium from August 27-29. During the symposium, investors will watch for clues on the US Federal Reserve's policy decision at the upcoming Federal Open Market Committee meeting scheduled for September 15-16.

On a week-on-week basis, the spot-month August 2026 contract increased to US$4,586.40 per troy ounce from US$4,358.70 the previous Friday, and the September 2026 contract advanced to US$4,602.90 from US$4,374.90. The October 2026 contract climbed to US$4,619.90 per troy ounce from US$4,390.6, while the November 2026 contract firmed to US$4,619.90 from US$4,349.20. The December 2026 contract rose to US$4,627.70 per troy ounce from US$4,398.40.

The weekly trading volume saw an increase to 1,233 lots from 1,009 lots last week, whereas open interest dipped to 327 contracts from 339 contracts the previous week. Physical gold was fixed at US$4,482.95 per troy ounce at the London Bullion Market Association's afternoon fix on August 20, 2026.