Hua Seng Heng expects the MPC to raise interest rates in September 0.25%, sees the baht stable at 37 baht / dollar, does not affect gold prices, looking at a frame of 29,000 – 29,500 baht. Looking ahead to next year, the world economy is still in decline – welcome to the new year and Chinese New Year
Mr. Thanarat Phasawong, CEO of Hua Seng Heng Group revealed to “Thai e-finance news agency” after the United States Federal Reserve (Fed) raised interest rates by 0.75% as expected, the trend in interest rates rose. This puts pressure on world gold prices down 7-8%, accepting a stronger dollar. However, when the dollar strengthens, the baht weakens. As a result, the domestic gold price has not fallen accordingly.
The meeting of the Monetary Policy Committee (MPC) on 28 September 65 is expected to have a policy of raising interest rates by 0.25%, which will not affect the appreciation of the baht much. We still see that the baht will move stable at the level of 37 baht / dollar.
In general, investors can still speculate on gold bullion trading. which estimates that although the rate hike situation and the dollar will gradually begin to slow But next year, the situation of global economic recession concerns. And there are New Year and Chinese New Year holidays too. It is also a positive factor supporting domestic gold bullion. to continue to increase
Initially, the world gold price was estimated at 1,650 -1,680 dollars / ounce. and domestic gold frame 29,000 – 29,500 baht
