Gold prices continued their upward trajectory on Wednesday, marking a fifth consecutive day of gains as investor sentiment shifted on developments in the U.S.-Iran peace agreement. The move reflects reduced apprehension about potential interest rate increases, drawing market attention ahead of forthcoming policy updates.
At 9:23 a.m. in Bangkok, spot gold was trading 0.22% higher at $4,348.93 per ounce. Concurrently, U.S. gold futures for August delivery posted a 0.15% increase, reaching $4,341 per ounce.
Recent progress toward a peace accord between the United States and Iran has helped diminish market concerns about aggressive interest rate action. Market participants are awaiting further information about the scope of the agreement, as well as details from the Federal Reserve’s upcoming meeting, for additional direction.
The focus now remains on the final details of the U.S.-Iran deal and the Fed’s policy signals, both of which could influence the trajectory of precious metals and broader risk sentiment.
To catch on this momentum, Maybank Securities (Thailand) recommends Depositary Receipt (DR) Gold, a leading global gold and rare earth mine, is a key driver of the clean energy and advanced technology revolution, as it is indispensable as a raw material for the production of electric vehicle motors, wind turbines, and cutting-edge electronics worldwide, amidst geopolitical competition for resources.
Notable DRs in the Thai stock market include:
- ZIJIN80 (Zijin Mining Group Company),
- NEM06 (Newmont Corporation)
- GOLD19 (SPDR Gold Shares)
- REMX03 (VanEck Rare Earth and Strategic Metals ETF)
