Gold prices closed up 700 baht, supported by heightened tensions in the Middle East, keeping Gold Spot above $4,100.

Gold prices today, July 9, 69, closed higher in the domestic market by 350 baht per baht of gold from the opening price this morning. The total increase for the day is 700 baht per baht of gold. The selling price of gold ornaments is 65,800.00 baht per baht of gold.

On July 9, 2569 according to the announcement of gold trade association The price of gold (96.5% purity) today opened at 9:01 AM and underwent 22 price adjustments throughout the day, with the latest price as of 4:20 PM.

The selling price of gold jewelry is 65,800.00 baht per baht of gold. The purchase price is 63,505.24 baht/baht of gold.

For gold bars, the selling price is 65,000.00 baht per baht weight and the buying price is 64,800.00 baht per baht weight. Meanwhile, the Gold Spot price is at 4,104.00 dollars per ounce.

This YLG's Evening Gold Analysis Reports indicate that gold prices rose above $4,100 per ounce today, following a slowdown in oil price gains. However, investment sentiment remains pressured by escalating tensions in the Middle East after the US launched a second consecutive day of attacks against Iran to curb its ability to threaten shipping through the Strait of Hormuz.

While Reuters reported that Iran retaliated by attacking US bases in Kuwait and Bahrain, markets remain concerned that the conflict could escalate and impact global energy supplies, even though oil prices have begun to slow their upward trend.

The Wall Street Journal noted that persistently high energy prices could slow down the easing of inflationary pressures compared to market expectations. This could lead the Federal Reserve to maintain high interest rates for an extended period, or consider further rate hikes if inflation remains above its target. These factors continue to support the dollar and U.S. Treasury yields, while increasing the opportunity cost of holding gold as a non-interest-bearing asset, thus limiting gold's recovery, even though demand for safe-haven assets remains due to geopolitical risks.

Investors should monitor weekly U.S. jobless claims figures, statements from New York Fed President John Williams, the results of the 30-year U.S. Treasury auction, and statements from Dallas Fed President Lori Logan to assess economic trends, interest rate direction, and their impact on the dollar, U.S. Treasury yields, and gold prices in the coming period.

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