KUALA LUMPUR, El Sky News – Gold futures on Bursa Malaysia Derivatives are anticipated to maintain an upward trajectory in the coming week, closely mirroring the gains observed in the United States Commodity Exchange (COMEX).
Bullish Outlook Amid Consolidation
According to a technical note from RHB Investment Bank Bhd (RHB IB), the market is expected to preserve its positive trading bias, provided prices remain above the critical psychological threshold of US$4,000 per troy ounce.
While the long-term outlook remains optimistic, analysts suggest that gold might enter a brief consolidation phase. Temporary resistance is currently identified at US$4,600 per troy ounce, with immediate support established around the US$4,200 level.
Technical Indicators and Risk Management
RHB IB highlighted that both the 20-day and 50-day Simple Moving Average (SMA) lines are trending upward, offering significant downside support. This technical setup reinforces the current bullish sentiment.
“At this juncture, traders are advised to maintain long positions initiated at US$3,562.90. To manage potential risks, a stop-loss level has been set at US$4,000 per troy ounce,” the bank stated.
Immediate resistance is pegged at US$4,600, while a higher resistance level is seen at US$4,800. On the downside, secondary support is firmly placed at US$4,000.
Weekly Market Performance
Reflecting on the previous week’s performance, most contracts saw a slight dip:
- January 2026 contract: Settled at US$4,401.8 per troy ounce.
- February 2026 contract: Dropped to US$4,417.3.
- March 2026 contract: Eased to US$4,433.9.
Despite the marginal price decline, market activity saw a significant surge. Weekly trading volume jumped to 441 lots from the previous 209, while open interest increased to 151 contracts from 95.
Physical Market Status
In the physical market, the London Bullion Market Association (LBMA) afternoon fix placed physical gold at US$4,367.8 per troy ounce as of December 30, 2025.
