Thai investors advised to keep eyes on US-China spat, Fed meeting

[rooster59]

Thai investors advised to keep eyes on US-China spat, Fed meeting

By The Nation

 

 

Experts have advised investors to keep an eye on international factors such as US-China tensions, listed companies' second-quarter performance, and the upcoming US Federal Reserve (Fed) meeting, as these could affect the Stock Exchange of Thailand (SET) Index and the gold price next week.

 

 

The SET Index on Friday (July 24) closed at 1,340.92, down 18.73 points or 1.38 per cent, with total transactions of Bt46.529 billion.

 

A stock analyst at Trinity Securities expected the index next week to fluctuate in a narrow range between 1,300 and 1,380 due to a flare-up of tensions between the US and China, and listed companies reporting their second-quarter performance.

 

"Also, we advise investors to follow the Fed meeting from July 28 to 29 as the [US central bank] will issue additional financial measures to stimulate the economy," the analyst said.

 

The price of gold on Friday stood at US$1,893.68 per ounce, while the price in Thailand was Bt28,400 per baht weight.

 

A gold analyst at YLG Bullion International advised investors to buy gold for short-term speculation.

"If the gold price does not drop below the support level of between $1,883 and $1,878 per ounce, the price will rise to the resistance level between $1,898 and $1,911 per ounce," the analyst said.

 

"If the price does not rise over the resistance level, investors who cannot tolerate risks can gradually sell some gold to take profits."

 

Source: https://www.nationthailand.com/business/30391887

 

-- © Copyright The Nation Thailand 2020-07-25

 

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[steven100]

the gold shops are extremely busy now as Thai's cash in their gold rings & chains. 

[Leaver]

13 hours ago, steven100 said:

the gold shops are extremely busy now as Thai's cash in their gold rings & chains. 

Swapping gold for food is a good investment when you are hungry.  

 

Edited July 25, 2020 by Leaver