The Gold Traders Association (GTA) projected a potential rise in gold prices, possibly hitting US$2,015 (71,535 baht) per ounce in the near future. However, this trend may be interspersed with periods of market volatility.
Yesterday morning, spot gold saw an increase of 0.4% to US$1,997.39, spurred by a dip in the US dollar and a fall in the benchmark US 10-year treasury yields to a low not seen in the last two months. US gold futures also saw a slight gain of 0.3% to US$1,998.60.
Tuesday had seen the precious metal trading at a three-week high of US$2,007.29 per ounce. However, it experienced selling pressure following unsettling initial jobless claims data, disrupting market expectations of the Federal Reserve beginning to cut rates around June in response to a slowing US economy, the GTA said.
“The market’s assumption of a Fed rate-cutting cycle…
