KUALA LUMPUR: The gold futures contract on Bursa Malaysia Derivatives is expected to trade cautiously this week, as markets anticipate that central banks will maintain aggressively hawkish stance due to rising energy-driven inflation.

Investors will also be closely monitoring developments in the West Asia conflict, along with upcoming economic data releases.

SPI Asset Management managing partner Stephen Innes said the market remained unsettled last week but showed signs of adjusting its reaction to developments.

“Instead of reacting sharply to every headline, markets are beginning to absorb the news, suggesting that a significant portion of the negative developments may already be priced in,” he said.

Gold often moves inversely to the US dollar. On a week-on-week basis, the spot-month April 2026 contract rose to US$4,670 per troy ounce from US$4,459.80 per troy ounce recorded in the previous week.

The May 2026 contract improved to US$4,689.30 per troy ounce from US$4,479.80 per troy ounce.

The June, July, and August 2026 contracts also finished firmer at US$4,708.60 per troy ounce from US$4,513.70 per troy ounce in the preceding week. — Bernama