Gold futures may trade on downside bias

Bullion At Gold Investments Ltd. As Gold Holds Ground Near Record

KUALA LUMPUR: Gold futures contracts on Bursa Malaysia Derivatives are expected to trade on downside bias this week, tracking the performance of the United States Comex gold futures.

SPI Asset Management managing director Stephen Innes said with the US Treasury yields expected to continue to fall as inflation ebbs and the Federal Reserve (Fed) widely expected to hike interest rates by another 25 basis points this week, gold could remain supported at US$1,950 (RM8,892) per troy ounce.