Gold futures on Bursa Malaysia Derivatives are expected to stay on a positive trajectory next week, supported by continued strength in US Commodity Exchange (COMEX) gold prices, despite trading being shortened by the New Year holidays.
In a note on Friday, RHB Investment Bank Bhd said the precious metal could extend its upward momentum after hitting a fresh record high above US$4,500 per troy ounce during early trading on Friday. The bank noted that prices may test the next resistance levels at US$4,700 per troy ounce, followed by US$4,800 per troy ounce.
RHB advised traders to maintain their long positions initiated at US$3,562.90 at the close of trading on Sept 2. To manage risk, a stop-loss level has been set at US$4,000 per troy ounce. Immediate support is seen at US$4,200 per troy ounce, with further support at US$4,000, while resistance levels are placed at US$4,700 and US$4,800 per troy ounce.
On a week-on-week basis, the spot-month December 2025 contract rose to US$4,487.40 per troy ounce from US$4,331.30 previously. The January 2026 contract increased to US$4,505.10 from US$4,349, while February 2026 advanced to US$4,520.60 from US$4,364.10. The March 2026 contract climbed to US$4,537.30 from US$4,380.80.
Meanwhile, the April 2026, June 2026 and August 2026 contracts all settled higher at US$4,555.30 per troy ounce, compared with US$4,380.80 a week earlier.
Weekly trading volume declined to 209 lots from 520 lots previously, while open interest eased to 95 contracts from 149.
Physical gold was fixed at US$4,449.40 per troy ounce during the London Bullion Market Association afternoon fix on Dec 23, 2025.
