KUALA LUMPUR: Gold futures on Bursa Malaysia Derivatives are likely to trade between US$4,100 and US$4,300 per troy ounce this week, with the precious metal expected to remain highly sensitive to United States economic data and broader monetary policy expectations.
SPI Asset Management managing partner Stephen Innes said current options pricing suggested the market was braced for a move of about 2.5% on either side of current levels, indicating a broad trading range around current prices.
“Asian demand is also likely to remain subdued in the early part of this week, with China still away for Golden Week until Oct 7,” he told Bernama.
