Gold Traders Association Chief Warns of Severe Volatility, Short-term Investment Risky While Long-term Outlook Remains Bullish
Gold prices face near-term volatility from Middle East tensions and U.S. policy uncertainty, though long-term investors are advised to gradually buy during dips with potential gains toward $6,000 per ounce after October, according to Thaila
On April 29, Jitti Tangsithiphakdi, president of the Gold Traders Association, revealed that gold prices continue to fluctuate due to Middle East tensions, especially Iran's situation, coupled with uncertainty surrounding U.S. President Donald Trump's policies. The organization urges investors to closely follow developments in May, particularly the appointment of the new Federal Reserve chairman, whose monetary policy could significantly impact gold prices.
Jitti stated that in the short term, gold prices may decline further but likely won't fall below $4,500 per ounce. For long-term investors, prices could potentially reach $6,000 per ounce after October. He recommended long-term investors gradually accumulate gold during price dips, while short-term traders, especially in online markets, should exercise caution and avoid over-leveraging.
The gold trading atmosphere remains quiet, with consumers hesitant to make purchases due to concerns about further price declines.
