Kuala lumpur: Gold futures on Bursa Malaysia Derivatives are poised to align with the United States (US) COMEX gold market as anticipation builds for the forthcoming release of the US Consumer Price Index (CPI) data for July, scheduled for next Tuesday. The upcoming data release is expected to heighten discussions among Federal Reserve members regarding interest rate directions in September.

According to BERNAMA News Agency, RHB Investment Bank Bhd indicated in a research note that gold futures are likely to maintain a bullish trend in the coming week. Analysts are forecasting a potential breakthrough above the US$3,450 per troy ounce resistance level, which could drive prices toward the US$3,500 per troy ounce mark. The note emphasized that in a bullish market scenario, resistance levels are generally weaker, with immediate support anticipated at the US$3,350 per troy ounce level.

The research firm advised traders to keep the long position initiated at US$3,402.40 per troy ounce. To mitigate downside risks, the stop-loss threshold is set at US$3,150 per troy ounce.

On a weekly basis, the spot-month August 2025 contract saw an increase to US$3,415.80 per troy ounce on Friday, up from US$3,310.40 a week earlier. The September 2025 contract rose to US$3,421.50 per troy ounce from a previous US$3,316.30, while October 2025 strengthened to US$3,451.50 per troy ounce from US$3,345.40. Additionally, the November 2025 contract advanced to US$3,468.90 per troy ounce from US$3,362.80.

Meanwhile, the December 2025, February 2026, and April 2026 contracts all settled higher at US$3,488.40 per troy ounce, compared to US$3,380.20 previously. Weekly trading volume experienced a decline to 107 lots from 129 lots in the prior week, while open interest expanded to 52 contracts from 29 contracts. Physical gold was priced at US$3,383.75 per troy ounce, based on the London Bullion Market Association's afternoon fix on August 7.