Mr. Jitti Tangsitpakdee, President of the Gold Traders Association, revealed that the world gold price has now exceeded $2,500 per ounce. However, due to the current appreciation of the baht compared to the US dollar, which is an important variable, the price of gold in our country is in the opposite direction of the world market. This morning, the price of gold in our country opened the market and dropped by 150 baht per baht of gold, and fluctuated up and down throughout the day. As for the trend of the world gold price, there is a chance that it will increase again because it is supported by the trend of interest rates, which investors are predicting that the Fed will start reducing interest rates at the meeting next month (September), which may cause the price of gold spot this year to rise to $2,600 per ounce, but not to $3,000 per ounce. 'Personally, I think that this year, the world gold price may reach 2,600 dollars per ounce, and it may cause Thai gold to have a chance to move to a new high of 42,0 00 baht per baht of gold. This is because our baht has strengthened, so Thai gold has not risen as fast as world gold. If we look back, we will see that Thai gold once reached its highest at 42,150 baht per baht of gold, even though the world gold price was less than 2,000 dollars per ounce. But now, the Thai gold price is less than 41,000 baht, even though the world gold price has exceeded 2,500 dollars. This is because the baht has strengthened a lot, at around 34 baht, and it may strengthen more than this because it has been strengthening every day recently. Overall, every 1 baht of the baht strengthening against the dollar will result in a 1,000 baht decrease in the price of Thai gold,' said Mr. Jitthi. However, for small investors who want to make a profit from gold, this is a good time. You can buy for short-term speculation. However, you have to keep an eye on the exchange rate because the baht still has a chance to weaken, which will cause the price of gold in the country to increase. Source: Thai News Agency