GOLD FUTURES TO TRADE CAUTIOUSLY NEXT WEEK

By Danni Haizal Danial Donald

KUALA LUMPUR, April 19 (Bernama) -- Gold futures on Bursa Malaysia Derivatives are likely to trade cautiously next week, as traders will be monitoring any potential trade war resolution, said an analyst.

SPI Asset Management managing director Stephen Innes said the commodity is expected to trade in the range of US$3,300 per troy ounce to US$3,350 per troy ounce next week.

“A United States (US)-Tokyo deal, or even a signal that US President Donald Trump and Chinese President Xi Jinping are willing to reopen dialogue, could be enough to push prices further upside.

“Retail sentiment tends to be optimistic. Therefore, I foresee the yellow metal trading cautiously at US$3,300 per troy ounce to US$3,350 per troy ounce next week,” he told Bernama.

On a Friday-to-Friday basis, the April spot month rose to US$3,305.20 per troy ounce from US$3,224.00 per troy ounce last week, while May 2025 increased to US$3,315.60 per troy ounce from US$3,234.40 per troy ounce.

The June, July and August 2025 contracts each gained to US$3,330.30 per troy ounce from US$3,246.80 per troy ounce last week.

Volume fell to 1,984 lots from 2,738 lots previously, while open interest declined to 175 contracts from 1,232 contracts.

According to the London Bullion Market Association’s afternoon fix on April 17, physical gold was priced at US$3,305.65 per troy ounce.

-- BERNAMA