Gold Rush Alert: Expert Predicts $2,800 Price Tag by Year-End – Is the Shine Back
Gold Price Trend: Expected to Reach $2,800 per Ounce by Year-End
According to Dr. Kritcharat Hiranyasiri, MTS Gold Group Executive Committee Chairman, the price of gold in Thailand remains stable due to the strengthening baht, despite the world market price increasing by 3% in the last 10 days.
The price of gold in the country is expected to be in the range of 40,800 - 40,900 baht per baht, while the world market price is expected to be in the framework of $2,750 - $2,800 per ounce.
The trend is still on the uptrend and may continue to move up to $45 - $100 per ounce, driven by the Federal Reserve Bank’s announcement of continued policy cuts in interest rates at the other two meetings this year, and the ongoing war.
However, during this period, investors can continue to invest, especially in Thailand, where prices did not move much due to the baht strengthening, caused by the depreciation of the dollar value and capital flowing into the Thai bond market and the capital market.
Key Takeaways:
- Gold price in Thailand remains stable due to the strengthening baht.
- World market price expected to reach $2,750 – $2,800 per ounce.
- Trend is still on the uptrend and may continue to move up to $45 – $100 per ounce.
- Investors can continue to invest, especially in Thailand.