A growing narrative hinting at a faster-than-expected US interest rate hike could push gold prices down to US$3,600 an ounce or as low as 55,000 baht per baht weight for domestic gold bars in the near term amid persistent concerns over elevated inflation, says YLG Bullion and Futures.
YLG chief executive Tipa Nawawattanasub said the key near-term pressure for gold is US monetary policy, as markets are wrestling with the possibility of "higher-for-longer" Federal Reserve (Fed) rates and an earlier-than-expected tightening cycle.
