28.6 C
Bangkok
Wednesday, May 8, 2024

Gold price on course for further increases

Traders bullish as Fed slows rate hikes

Demand for gold in Thailand grew by 7% to 13 tonnes in the third quarter from 12 tonnes a year earlier. Chakrapan Natanri

Gold traders remain bullish about price trends even as they dipped recently, saying the likelihood that the US Federal Reserve is done with interest rate hikes and the prospects of an intensifying Middle East war support price strength.

Spot gold prices moved in a range of $1,978-$1,990 an ounce Friday morning, up $3.02 or 0.15%, while domestic gold bars were traded between 33,850 and 33,900 baht, according to Hua…

Read more…

Latest Articles