MTS estimates the price of gold in the 4th quarter has a chance to test $ 1,600.
MTS Gold looks at the last quarter of the year Gold direction will be an uptrend And have a chance to test $ 1,600 due to uncertainty supporting the gold price.
Dr. Kritrat Hiranyasiri, Group Management Committee of MTS Gold Group, Mae Thongsuk Said about the view to gold investment in the 4th quarter of 2019 that the price of gold from the beginning of the year until 15 Sep 19 will increase due to the 3 main issues in the world which are 1) the trade war between China – US 2) Fed's monetary policy adjustment From the beginning to raise interest at the beginning of the year Became a rate cut since the 4th month onwards, and the Fed has cut interest rates in more than a decade for the first time since July. The past and the latest, we can see the Fed cut interest rates for the second time in the period 17-18 September and made the main interest rate at 1.75% and 3) the global economy. Slowing down This can be seen from the weakness of the Chinese, Japanese and European economies.
For the past economic conditions All regions or corners of the world were affected by the US-China trade war. That is considered an important variable that affects gold prices and the Fed's monetary policy as well. Therefore, the analytical approach is based on the conditions analyzed by the conditions of the trade war. That should continue until the end of the year or next year
At the moment (25 Sep), the price is at the level of $ 1,530 and MTS Gold analyzed that the price would be able to breakout the previous high of $ 1,548 last month with the condition that Trade negotiations with the United States-China. Must not be able to agree 100% including the conditions of the global economic slowdown The ECB has injected 20 billion euros in cash and England is still facing Brexit in late October. Including the uncertainty of the stock market, it should still exist.
From the above factors, it can be analyzed that Gold direction will be an uptrend That has the opportunity to test $ 1,600 at the end of this year. However, investors may find gold fluctuations all the time. Which is both a rhythm and an opportunity to buy or sell
As for the price of gold in Thailand, there will be a major support of 21,600 baht / baht and there is an opportunity to test 23,000 baht / baht at the end of the year. By analyzing that the baht value itself should not strengthen, falling below the level of 30 baht / dollar Because the Thai economy is not better than the US economy By comparing the dollar and the baht Which the baht will rapidly appreciate more than the real economy of the country