Survey Shows 54% of Investors Expect Gold Price Drop
A survey by Thailand’s Gold Research Center shows 54% of investors expect the domestic gold price to fall this week, while 46% of experts predict a rise. The center forecasts gold will trade sideways in Q4 between $3,950 and $4,500 per troy ounce, or 65,000–70,000 baht, and recommends buying near 65,000 baht. Key influences include upcoming U.S. Federal Reserve policy signals and economic data.
The Gold Research Center released the GRC Gold Survey showing 54% of investors expect this week's gold price to fall, while 46% of experts anticipate an increase. It forecasts Q4 gold trading sideways between $3,950 and $4,500 per troy ounce, suggesting a dip to $3,950‑$4,000 as a buying opportunity, and sees Thai gold trading between 65,000 and 70,000 baht, recommending purchases near 65,000 baht. Dated October 5, 2026, the center disclosed weekly views on domestic gold price direction from the GRC Gold Survey of 13 market experts: 6 (46%) expect prices to rise, 4 (31%) expect a decline, and 3 (23%) foresee little change. Among 340 gold investors surveyed, 112 (33%) anticipate a rise, 185 (54%) expect a drop, and 43 (13%) see little movement, reflecting caution and short‑term downside pressure. Last week, domestic 96.5% gold bar prices, per the Gold Traders Association, ranged from 65,800 to 67,000 baht per baht weight, closing at 65,950 baht, down 1,900 baht from the previous week’s close of 67,850 baht. Key factors to watch Oct 5‑9 include U.S. Federal Reserve monetary policy direction, especially remarks by St. Louis Fed President Alberto Musalem and other officials, auctions of 10‑year and 30‑year U.S. Treasuries, and subsequent bond‑yield trends. Also to monitor are U.S. economic data such as the ISM Services PMI, expected consumer inflation for September 2026, the preliminary October consumer confidence index, the FOMC meeting minutes from the September 15‑16 meeting, and weekly jobless claims, all of which influence interest rates, the dollar, bond yields, and gold’s trajectory. Gold Research Center Director Pibulrit Wiriyaphon noted that over the first three quarters gold has been volatile, Q1 performed well reaching the year’s high before selling pressure emerged in Q2, pushing prices lower and stabilizing at reduced levels. Early Q3 saw a dip to a July low before a rebound, with gold now around $4,100 per troy ounce, considered this year’s lower bound. He added that Q4 is expected to trade sideways between $3,950 and $4,500, with strong support near $3,950 and resistance around $4,500, noting that November often sees fund account‑clearing while December trading thins due to fewer working days.
