Increasing tensions in the Middle East could push gold above US$2,000 an ounce, while domestic prices could reach 34,700 baht per baht-weight (15.2 grammes) after two spikes on Thursday, say local gold traders.
Spot gold rose 0.4% to $1,986.79 on Thursday morning, while US gold futures edged up 0.1% to $1,997.10 as growing concerns about the Israel-Hamas conflict increased investors’ appetite for safe-haven assets.
Domestic gold prices increased twice by 400 baht yesterday to 34,150 baht for gold bars, in part because of the stronger dollar.
“The Israeli leader’s vow to launch a ground invasion to push Palestinians out of the Gaza Strip has raised investors’ concerns that their conflict could turn into the Third World War,” said Varut Rungkhum, head of research at YLG Bullion & Futures.
Meanwhile, the main UN agency in Gaza halted aid operations and reportedly partially pulled out its team on the ground, signalling the war might escalate, he said.
“We project global gold prices to reach $2,003 per ounce while domestic prices could be in the range of 34,400 to 34,700 baht,” said Mr Varut.
Other analysts expect gold prices could eventually reach $2,100 during the current tensions. Mr Varut noted how they last climbed above $2,000 in Match 2022, not long after the Russian invasion of Ukraine.
Gold reached an all-time high of $2,074.88 in August 2020.
In the near term, gold prices could be influenced by the outlook for continuing high interest rates in the United States. That outlook in turn could be influenced by US third-quarter gross domestic product (GDP) data due this week.
As US bond yields edged up again overnight, analysts are now predicting the Federal Reserve might increase its benchmark rate one more time this year, said Mr Varut. Source: Bangkok Post
កម្ពុជា ជាប្រទេសមួយក្នុងចំណោម ប្រទេសដែលរងគ្រោះខ្លាំងជាងគេ ដោយគ្រាប់មីន និង សំណល់ជាតិផ្ទុះពីសង្គ្រាម (ERWs)។ យោងតាមការប៉ាន់ប្រមាណបង្ហាញថា គ្រាប់មីនចន្លោះពី៤លានទៅ៦លានគ្រាប់ និងគ្រាប់មីនផ្សេងទៀតត្រូវបានបន្សល់ទុកពីសង្គ្រាមរយៈពេល៣ទសវត្សរ៍ និងជម្លោះផ្ទៃក្នុងដែលបានបញ្ចប់ក្នុងឆ្នាំ១៩៩៨។
លោកបានជំរុញដល់ម្ចាស់អាជីវកម្ម ត្រូវបន្តអភិវឌ្ឍសមត្ថភាពផ្ទាល់ខ្លួន ពង្រឹងប្រព័ន្ធគ្រប់គ្រងអាជីវកម្ម កាត់បន្ថយចំណាយមិនចាំបាច់ ពង្រឹងការលក់ ពិសេសគឺត្រូវតែរវល់នឹងការលក់ មិនគួររវល់នឹងរឿងផ្សេងឡើយ។
