Kuala lumpur: Gold futures on Bursa Malaysia Derivatives are projected to trade with an upward bias next week, supported by expectations of softer US economic data, an analyst said. Bank Muamalat Malaysia Bhd chief economist Dr. Mohd Afzanizam Abdul Rashid indicated that the recent decline in US Treasury yields could potentially provide further upside for spot gold prices.

According to BERNAMA News Agency, Dr. Mohd Afzanizam noted that spot gold prices might attempt to break the US$4,400 per ounce level next week, particularly as crude oil prices are expected to remain stable and skewed to the downside. On a week-on-week basis, the September 2026 contract rose to US$4,393.20 per troy ounce from US$4,353.50, while the October 2026 contract advanced to US$4,411.20 per troy ounce from US$4,368.70. Additionally, the November 2026 contract increased to US$4,428.50 per troy ounce from US$4,384.00 per troy ounce.

Furthermore, the December 2026, February 2027, and April 2027 contracts all gained, rising to US$4,436.30 per troy ounce from US$4,391.80 previously. Despite these gains, weekly trading volume slid to 1,152 lots from 1,492 lots a week ago, and open interest decreased to 307 contracts from 469 contracts. Meanwhile, physical gold was fixed at US$4,368.10 per troy ounce at the London Bullion Market Association's afternoon fix on September 17, 2026.