Ms. Thipa Nawawattanasub, managing director of YLG Bullion and Futures Co., Ltd. (YLG), revealed that the overall price of gold over the past 65 years has been quite volatile, the price has fluctuated by more than 20% per top Gold opened at $1,828 an ounce. and adjusted to as high as $2,069 an ounce.
The important Russian-Ukrainian news impact factor came as a support factor. And it started to decline when the US Federal Reserve (Fed) raised official interest rates in March, gold prices continued to decline. Up to touching the minimum of 1,614 dollars an ounce. But gold’s signal picked up again at the end of the year, the Fed started raising interest rates less, taking gold above 1,800 US dollars an ounce.
However, in 2022, domestic gold prices move differently from foreign gold prices. why the baht depreciates against the US dollar Therefore, making this year from the beginning of the year to the present, if someone holds gold at Thai prices, he still makes a profit of almost 4%
gold price trend 2023
The gold price trend will go up a lot. There are 4 support factors that need to be monitored, starting with
1. US Economic Factors Because many people expect the US economy to have a chance of a recession if the Fed keeps raising interest rates. However, looking back into the past, if most economic crises happened, gold would produce a positive return.
2. From worries about the US recession. As a result, the market expects it The direction of the Fed’s interest rate policy may change, i.e. it will increase less than expected by the Fed and lower interest rates faster By the fourth quarter of 2023 interest rates are expected to interest will be reduced. Also, if the Fed cuts interest rates at the end of next year This will lead to the depreciation of the US dollar, which will have a positive effect on gold prices.
3. The movement of the SPDR fund, which is a large gold fund in October and November 2022, the SPDR fund sells less gold. Including the start of gold buying in December 2022 which is a positive sign that it supports gold.
4. However, the conflict between Russia and Ukraine is still a factor supporting gold prices. Although it has a minor effect on investment But it is still a factor that needs to be monitored.
As for investment advice for gold in 2022, medium to long-term forecasts range from US$1,879 to US$1,916 per ounce. The Thai price is around 30,850-31,450 baht per gold baht If gold does not hit a new low over 2022, gold’s direction will be bright.
However, if gold is overbought, it will take profits. Therefore, investors are advised to partially sell. Baht for baht, gold can wait to buy at $1,616 an ounce. or expect to buy around 26,500 baht per gold baht
