KUALA LUMPUR, May 30 — Gold futures on Bursa Malaysia Derivatives are expected to remain well supported next week as investors assess the sustainability of easing geopolitical tensions in West Asia.
They are also awaiting key United States (US) economic data that could shape the US Federal Reserve’s (Fed) interest rate outlook.
SPI Asset Management managing partner Stephen Innes said bullion prices should remain firm, assuming the 60-day ceasefire between the US and Iran holds and there is progress towards a broader agreement.
However, he said the next catalyst for gold prices would likely come from next week’s US Consumer Price Index (CPI) and nonfarm payrolls (NFP) reports.
“Softer inflation and employment data would strengthen expectations that the Fed could begin cutting interest rates in the coming months, a scenario that typically benefits gold,” he told Bernama.
On a week-on-week basis, the spot-month May 2026 contract decreased to US$4,525.80 per troy ounce from US$4,531.60 per troy ounce last Friday, while June 2026 rose to US$4,553.30 per troy ounce from US$4,548.60 per troy ounce.
The July, August and October 2026 contracts all settled marginally higher at US$4,567.00 per troy ounce from US$4,562.80 per troy ounce in the preceding week.
Weekly trading volume narrowed to 66 lots from 120 lots, while open interest increased to 98 contracts from 89 contracts a week earlier.
Physical gold was fixed at US$4,419.45 per troy ounce at the London Bullion Market Association’s afternoon fix on May 28, 2026.
