Gold prices shine on: Traders stay bullish amid recent slump

The trading community’s optimism for gold prices remains undeterred despite a recent slump, attributing potential strength to a possible end to US Federal Reserve interest rate increases and the escalating conflict in the Middle East.

On Friday morning, spot gold prices oscillated between US$1,978 and US$1,978 per ounce, marking an increase of US$3.02 or 0.15%. Concurrently, domestic gold bars traded between 33,850 and 33,900 baht, as per Hua Seng Heng’s report.

The gold price trajectory is influenced by several factors, including the mounting anticipation of a halt in the Fed’s interest rate hikes. This could lead to a weakened dollar and US bond yields, following the central bank’s decision to maintain the rate at a 22-year peak of 5.25-5.50% last week.

Investors are also closely observing Hezbollah leaders’ stance on the Israeli…