By Nur Athirah Mohd Shaharuddin
KUALA LUMPUR, Oct 17 (Bernama) -- Gold futures on Bursa Malaysia Derivatives are expected to trade between US$4,115 and US$4,315 per troy ounce next week as traders shift towards traditional safe-haven assets amid growing concerns over financing stress in the United States’ artificial intelligence (AI) sector.
SPI Asset Management managing partner Stephen Innes said what began as concerns over the sustainability of AI capital expenditure is increasingly spilling into broader credit markets, raising questions about financial conditions and the potential consequences for economic growth.
“Traders are becoming more defensive, and gold is once again finding support as a portfolio hedge against financial instability,” he told Bernama.
He opined that gold is sitting just below a significant technical pivot at US$4,225, which could prove decisive for next week's direction.
If the next round of AI credit stress pushes investors further toward capital preservation, a sustained break above that level could open the door to another meaningful move higher.
On a week-on-week basis, the October 2026 contract fell to US$4,187.30 per troy ounce from US$4,196.10, the November 2026 contract went down to US$4,203.70 from US$4,212.40, and the December 2026 contract dropped to US$4,220.20 from US$4,228.90.
Meanwhile, the January 2027, February 2027 and April 2027 contracts all slipped to US$4,220.20 per troy ounce from US$4,228.90 previously.
Weekly trading volume dropped to 365 lots from 547 lots a week earlier, while open interest declined to 149 contracts from 161 contracts.
Physical gold was fixed at US$4,152.25 per troy ounce at the London Bullion Market Association’s afternoon fix on Oct 15, 2026.
-- BERNAMA