Bangkok: Global gold prices have surged past the $5,000 mark per ounce, driven by escalating geopolitical risks involving Iran, causing ripples across global markets.

According to Thai News Agency, this price point is considered a critical psychological support level, and maintaining above this figure could lead to further increases. In Thailand, gold prices have also climbed, breaking through 74,000 baht, although market analysts warn of potential profit-taking near the resistance level of 75,500 baht.

Ms. Areerat Murachai, Chief Analyst at GCAP GOLD, noted that the rise in global gold prices reflects geopolitical risks, especially the increasing focus on Iran. The tensions between Iran and Western countries, coupled with risks to Middle Eastern stability, are not seen as isolated incidents. They are viewed as potentially escalating into a larger conflict that could affect energy markets, trade routes, and global financial stability.

Technically, the $5,000 level has become a significant psychological support point. If prices remain above this threshold, it indicates market acceptance of this new level, with the upward trend continuing. The key resistance level is identified at $5,150-$5,200, serving as an indicator of buying pressure. A sustained breakout beyond this range would confirm an acceleration in the gold price trend.

In Thailand, the breach of the 74,000 baht level mirrors the influence of global gold prices amid ongoing risks from Iran. However, the rapid short-term increase raises the likelihood of profit-taking, particularly if geopolitical tensions start to ease. Investors are advised to exercise caution, as selling pressure may emerge around the 75,500 baht mark.