36.6 C
Bangkok
Friday, May 10, 2024

Mideast conflict, China demand boost gold prices

Protracted war could push gold up to test all-time record aound $2,070 an ounce

Gold necklaces are displayed at a shop on Yaowarat Road in Bangkok. Local gold prices remain above 34,000 baht per baht-weight (15.2 grammes).(Bangkok Post file photo)

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…

Read more…

Latest Articles