Gold price in Thailand There is a chance to break the new record level of 42,650 baht after the Federal Reserve cuts interest rates.

The price of gold is something to watch. It is fragrant at this time after the price of gold in the global markets rose to a new record high. At the same time, the price of gold in the country remains low. As a result of the strengthening of the baht

Going forward, what will the gold price look like? SPOTLIGHT had the opportunity to interview Mr. Getty Tangsitpakdi. Chairman of the Gold Traders Association Let’s take a look at the gold price outlook: As the chairman of the Gold Traders Association, how do you view the gold price trend?

Mr. Getty Tangsitphakdi, Chairman of the Gold Traders Association, revealed to SPOTLIGHT That in September 2024 the US Federal Reserve will cut interest rates and as a result, the price of gold in the global market will rise. After the recent period, it has reached a new high (new high) of more than $2,500 per ounce. This will gradually increase the price of gold and provide an opportunity to achieve a new high of $2,600 per ounce.

To know the current price of gold in Thailand, because the value of the baht has strengthened in the past. As a result, the price of gold in the country has fallen. It does not match the price of gold in the global market, and this price is lower to the level of 1000-2000 baht per gold baht from the level of 40,500 baht per gold baht. The price of gold in the country should reach the level of 42,500 baht per gold baht. Because the value of the baht has strengthened by about 5%

“I think after the Fed cuts interest rates, the price of gold in the global market will rise and the price of gold in the country will have a chance to reach new highs again. Both the global gold price has a chance to exceed $2,600 per ounce and the domestic gold price has a chance to reach new highs as well, with a chance to exceed 42,650 baht per gold baht by the end of September.”

We advise investors to accumulate gold gradually now that it has become cheap due to the strength of the baht.

Mr. Getty advised investors to accumulate gold during this period. Because the price of gold in the country is very cheap. This is because the value of the baht has strengthened. If you have the opportunity, it is advisable to accumulate it gradually.

Global Securities expects a price range of $2,450 to $2,550 per ounce.

As for the direction of gold prices this week, Mr. Nattawut Wongyawarak, Research Director at Globelex Securities, believes that important US economic data should still be closely watched, including durable goods orders, the house price index, the consumer confidence index, the latest GDP estimates for Q2 2024, the trade balance, the number of weekly unemployment claims, the PCE inflation rate and inflation expectations.

However, gold prices received support from the minutes of the Federal Open Market Committee (FOMC) meeting, which indicated the possibility of a rate cut at the September meeting. In addition, the escalation of geopolitical tensions is another factor that has a positive impact on the price of gold. Based on these factors, Global Securities estimates that the range of gold price movement this week is between $2,450 – $2,550 per ounce. Speculative investment strategies are recommended within the estimated price range