Gold futures contract on Bursa Malaysia Derivatives is likely to see cautious trading as investors await new market catalysts to drive demand, said a trader.

She said investors would also monitor the release of US nonfarm payroll on Friday to make trading decisions.

Meanwhile, the local gold futures will take the cue from the movement of the US COMEX’s gold futures, said the trader.

For the week just ended, the gold futures traded mostly lower throughout the shortened trading week, tracking the US COMEX’s gold futures market. On Friday, domestic gold futures traded lower with 66 lots. Overall, a total of 104 lots were recorded throughout the week.

On a weekly basis, spot month February 2023 slipped to US$1,919.0 per troy ounce from US$1,932.7 per troy ounce last week.

March 2023 settled at US$1,924.7 per troy ounce, while April 2023, May 2023, June 2023, and August 2023 all settled at US$1,933.8 per troy ounce.

The price of physical gold stood at US$1,921.65 per troy ounce as published by the London Bullion Market Association afternoon fix on Feb 2, 2023.