MTS Gold Mae Thong Suk: Gold Price Trend Direction for Next Week

Gold Price Outlook for 23-27 September 2024

The direction of the gold price trend for next week is likely to be influenced by the economic base, which is expected to continue improving. This comes after the US Federal Reserve (Fed) cut interest rates by 0.5%, marking the first significant interest rate cut in 4 years.

This move is expected to drive the world gold price to new heights, while a weakening dollar index will put pressure on the Thai baht to strengthen. As a result, the baht has reached a new low of 33.1 baht per dollar.

Despite this, the price of gold in Thailand is not expected to rise significantly, with the world gold support level at 2,560-2,586 USD and the resistance level at 2,620-2,650 USD. This means that the price of gold in Thailand is likely to remain in the 40,600 baht area.

Key points to watch for next week include the world gold price, the dollar index, and the Thai baht exchange rate. These factors will influence the direction of the gold price trend and determine whether it will continue to rise or fall.