Bangkok: The Gold Traders Association has advised investors to accumulate gold following a recent decline in prices, predicting a potential increase in the near future. The Association observed a notable increase in gold prices, with the first half of the day experiencing a rise of 1,150 baht, followed by an additional increase of 2,000 baht over two consecutive days, prompting their recommendation to invest in gold accumulation.
According to Thai News Agency, Mr. Jitti Tangsitpakdee, President of the Gold Traders Association, attributed the rise in New York gold futures by over $100 to expectations of a potential interest rate cut by the Federal Reserve in its December meeting. This expectation comes in response to weak economic data, with market predictions placing gold prices between $4,200 and $4,300 per ounce by the end of the year, potentially reaching $5,000 per ounce in the first quarter of 2026.
The recent price adjustments are seen as part of a new round of market recovery following a significant decline. The Gold Traders Association views this as an opportunity for investors, particularly in the gold futures market, which has faced setbacks amid previous record-high price surges. Mr. Jitti noted that domestic gold prices continue to trend upward, despite possible temporary declines, and highlighted the importance of monitoring factors such as the US-China trade tensions and the likelihood of a Fed interest rate cut.
Investors are encouraged to accumulate gold if they have the purchasing power, while futures investors are advised to proceed with caution and consider short-term investments to avoid potential losses similar to past occurrences. As of 10:30 a.m., the domestic gold price had already increased by 1,150 baht, indicating a favorable environment for investment.