Hua Seng HengPrivate▲ Positive
Monetaryrelevance
Gold price surge driven by trade war tariff risks and potential Fed rate cuts, benefiting gold futures trading company.
The domestic gold price on the morning of July 22, 2026, rose by 1,050 baht, pushing gold ornaments to sell at 66,600 baht per baht weight. Meanwhile, 96.5% gold bars are bought at 65,600 baht and sold at 65,800 baht, according to the Gold Traders Association. Hua Seng Heng Gold Futures stated that the global gold price rally was supported by the risk of a renewed trade war, after US Trade Representative Jamieson Greer signaled that President Trump is preparing to announce a new round of import tariffs at rates of 10% to 12.5%. This comes as the 10% tariff under Section 122 of the Trade Act of 1974 is set to expire this Friday. Additionally, Iran has signaled an opening for negotiations with the US, which could support a future decline in crude oil prices, inflation, and Fed interest rates. The SPDR fund bought an additional 2.28 tonnes of gold. Hua Seng Heng assesses that global gold prices have resistance at 4,135 and 4,165 dollars, and support at 4,080 and 4,065 dollars, recommending gradual profit-taking at resistance levels and gradual accumulation at support levels.
Gold price surge driven by trade war tariff risks and potential Fed rate cuts, benefiting gold futures trading company.