Hua Seng Heng believes gold has passed its lowest point and anticipates an upward trend towards the end of the year, supported by the US Midterm Election. They forecast a global gold price target of $4,900-$5,000.

YLG assesses domestic gold prices, with a key resistance level of 77,000 baht per baht of gold in 69. They recommend gradually accumulating gold in the 61,000–62,000 baht price range. They also advise monitoring the Fed, the US dollar, inflation, and geopolitical factors, which could provide long-term support for gold.

Gold prices surged past $4,400, boosted by US inflation reaching 3.4%, increasing the likelihood of the Federal Reserve keeping interest rates unchanged in February. Analysts warn against complacency.

If the Fed reduces the number of FOMC meetings to six times a year, gold prices may become more volatile as economic data, inflation, and employment figures may become more important.

Gold prices have the potential to resume an uptrend, YLG indicates limited downside due to buying pressure from central banks worldwide, and sets a gold price target of $4,890-$5,250.

The People's Bank of China purchased another 20 tons of gold for its reserves, continuing its accumulation for 21 months, even as prices remained above $4,000. Meanwhile, central banks worldwide continue to increase their gold reserves.

The People's Bank of China continued its gold accumulation for the 20th consecutive month, increasing its holdings in Hong Kong and gradually transferring some reserves from London, supporting its new gold settlement system.

"Global gold prices" surged for the fourth consecutive day, reaching $4,285, their highest level in seven weeks, as hopes of a reopening of the Strait of Hormuz pressured oil prices, the dollar, and bond yields.

The World Gold Council revealed that Thailand's demand for gold for investment in the second quarter of 2026 reached 10.9 tons, a 10% increase and the strongest growth since 2019. This was driven by a price correction stimulating buying interest, supported by trends among younger generations and gold savings accounts. This positions Thailand and Indonesia as key drivers of the ASEAN gold market.

Chinese institutional investors returned to buying gold after prices fell to $4,000 per ounce, resulting in the longest continuous inflow of gold ETFs in China for 14 days since March.