Gold futures fall amid selling in materials and mining shares
The October 2026 contract settled at US$4,017.3 per troy ounce, while trading volume rose to 94 lots.
Selling pressure on materials and gold-mining equities weighed on Bursa Malaysia Derivatives gold futures on Oct 26, according to SPI Asset Management managing partner Stephen Innes. All listed contract months ended the session lower.
October 2026 futures finished at US$4,017.3 per troy ounce, versus US$4,027.6 previously. The November 2026 settlement was US$4,033.0, compared with US$4,043.6. For December 2026 and the January 2027, February 2027 and April 2027 maturities, prices fell from US$4,059.2 to US$4,048.2 per troy ounce.
Turnover increased from 85 lots to 94 lots, with open interest rising from 163 contracts to 177 contracts.
Innes told Bernama that renewed buying had lifted gold prices slightly after a sharp sell-off, but cautioned that substantial losses were still weighing on the market. He expected traders to exercise caution before the US Federal Reserve’s policy meeting.
He did not anticipate a hawkish surprise, pointing to financial conditions that had already tightened because of higher yields and fallout from crowded artificial intelligence trades. Innes said uncertainty about whether forced selling had finished could hinder a sustained rise in gold, even with favourable macroeconomic conditions.
Separately, the London Bullion Market Association recorded an afternoon physical gold fixing of US$4,013.3 per troy ounce on Oct 23, 2026.
