0223 gmt gold prices are lower in early asian trade the precious metal has been pulling back in recent months amid continued market worries over the fed’s tightening trajectory but analysts at zheshang securities reckon the metal has likely hit a bottom sufficiently pricing in most negative risks from potential further fed rate increases this year moreover rising uncertainties over the global economy and geopolitical risks should underpin the safehaven asset’s continued attractiveness to investors and buyers the analysts add “therefore gold prices are unlikely to suffer any substantial downside from this level” they say spot gold is down 03 at 193130 an ounce yifanwangwsjcom