Gold Eyed to Hit 68,000 Baht; CPI-PPI Data Key
Most gold market experts expect prices to rise toward 68,000 baht this week, with U.S. inflation data and geopolitical tensions key to the outlook.
The Gold Research Center has released its weekly survey on domestic gold price direction for August 10–14, 2025. According to the GRC Gold Survey, of 13 market experts polled, 8 (or 62%) expect gold prices to rise next week, 2 (or 15%) expect a decline, and 3 (or 23%) expect prices to remain flat compared to the previous week. Among 331 retail gold investors surveyed, 233 (or 70%) anticipate an increase, 55 (or 17%) expect a decrease, and 43 (or 13%) forecast stable prices.
Domestic 96.5% gold bars traded in a range of 64,000–67,850 baht per baht weight the previous week, closing at 67,900 baht—a gain of 3,700 baht from the prior week's close of 64,200 baht. The Gold Research Center identified key factors to monitor next week: U.S.-Iran tensions and progress on opening the Hormuz Strait following preliminary negotiations between Iran and Oman, though a full opening remains uncertain.
Additionally, markets will watch U.S. Treasury bond auctions and bond yield trends, with the U.S. Treasury Department scheduled to auction 10-year bonds on August 12 and 30-year bonds on August 13, 2025. These auctions will influence U.S. Treasury yields and the dollar's value. The Federal Reserve's policy direction is also critical, especially after weak July non-farm payroll data reduced market expectations for a rate hike at the September meeting.
Economic data to monitor includes July's Producer Price Index (PPI) and Consumer Price Index (CPI), preliminary August consumer inflation sentiment, and weekly jobless claims figures. Pattarin Wichitakpan, COO of Lenghong Commodities, noted that gold's recent breakout above key resistance levels at $4,150 and $4,250 is significant, though it has only approached the $4,350 level without sustaining above it. She observed that previous gold-supportive news has already been priced in, while U.S.-Iran tensions remain a volatile wildcard that requires careful monitoring.
For this week (August 10–14), CPI and PPI figures released Wednesday and Thursday will be crucial in determining whether gold can extend gains or faces another pullback.
