Kuala Lumpur: Gold futures on Bursa Malaysia Derivatives are likely to trade range-bound next week, said an analyst. SPI Asset Management managing partner Stephen Innes noted that the bullion is expected to remain within its current trading band of US$3,330 to US$3,390 per troy ounce.

According to BERNAMA News Agency, Stephen Innes highlighted that throughout the past week, gold has been trading flat, mirroring the indecision observed in currency markets. The metal has been moving almost in lockstep but inversely with the US dollar. As such, Innes advised monitoring the dollar closely, as it is currently the main influence on gold prices.

On a Friday-to-Friday basis, the spot month June 2025 contract increased to US$3,371.80 per troy ounce from US$3,312.20 per troy ounce. Similarly, the July 2025 contract rose to US$3,380.30 per troy ounce from US$3,325.90 per troy ounce. The August 2025, September, and October 2025 contracts all strengthened to US$3,393.80 per troy ounce from US$3,325.90 per troy ounce.

Trading volume dropped to 241 lots from 256 lots recorded in the preceding week, while open interest reduced to 122 contracts from 139 contracts. According to the London Bullion Market Association's afternoon fix on June 6, physical gold was priced at US$3,374.60 per troy ounce.