Gold opens higher by 400 baht, Hua Seng Heng sees sideways trend tracking global gold

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Retail gold at 96.5% purity opened 400 baht per baht-weight higher this morning, tracking the global gold trend. The Gold Traders Association announced its first price quote at 9:06 a.m., with gold bars bought at 67,700 baht per baht-weight and sold at 67,900 baht per baht-weight, while gold ornaments were bought at 66,340.16 baht per baht-weight and sold at 68,700 baht per baht-weight. An analysis by Hua Seng Heng Gold Futures Co., Ltd. stated that global gold prices rebounded and held above support around 4,235 dollars, bringing the overall picture back to a sideways trend as prices appear unlikely to make a new low. It assessed that global gold may pull back again after testing resistance around 4,300 and 4,320 dollars, but if it breaks below the next support at 4,200 dollars, it could make a new low again. Earlier, global gold declined as the dollar index DXY rose for a fourth consecutive day to 101.24 points from 100.25 points, while the 10-year US bond yield rose for a second day to 5.20% from 4.94%. Meanwhile, the president of the Federal Reserve Bank of Philadelphia, one of the committee members eligible to vote on interest rates in 2026, said inflation still requires special attention and that further rate hikes may be necessary, driven mainly by the Middle East war and investment in AI infrastructure. Tensions between the United States and Iran show no sign of easing after Iranian President Masoud Pezeshkian blamed the United States and Israel for inciting global instability, keeping alive concerns over an energy-driven inflation crisis that could force the Fed to raise rates in the future, a negative factor for gold. The SPDR fund held its gold holdings unchanged.

Impact on assets 3

Others▲ · 2 stocks
％Effective Federal Funds Rate
EFFR
▲ PositiveMonetaryrelevance

Philadelphia Fed president said inflation still requires attention and further rate hikes may be necessary, implying a higher policy rate.

Others▲ · 1 stocks
⛏Gold Futures
GOLD
± MixedMonetaryrelevance

Gold rebounded above $4,235 support but faces pressure from a rising dollar index and 10-year yield plus hawkish Fed rate-hike talk, leaving the trend sideways.

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