The Prime Minister of the Gold Trade expects the price of gold will increase next week. The US economy slows down
On August 7, Mr. Jitti Tangsittibhakdi The President of the Gold Traders Association said that in the next week the price of gold will continue to move up. and has the opportunity to touch the level of 1,800 US dollars per ounce. Due to the clarity of the US economy that is slowing and not improving However, it is expected that the interest rate hike of the US Federal Reserve or the Fed will not be raised at the next meeting.
Mr. Chitti said Investors who invest in gold in Thai baht should be cautious. Due to the volatility of the baht during this period, even if the world market price has moved up from the appreciation of the baht, the domestic gold price has not moved very high. The gold price is expected next week. Should be in the range of 1750-1,775 US dollars per ounce. And there is a chance to increase further if the gold price exceeds the resistance above.