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Gold price forecast thailand investors tracking gold price forecast

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Investors tracking gold price forecast Thailand note increased volatility, driven by geopolitical risks and Thai baht fluctuations. Technical charts indicate the 50-day moving average trending upward, supporting potential breaks above THB 77, The World Gold Council said in its annual report that the global demand for gold hit a record high in 2024, fueled by investment demand growth and robust central bank purchases. Total gold transactions reached 4,974 tons in 2024, up from 4,899 tons in 2023, including over-the-counter (OTC) investments. Central banks are exhibiting an “insatiable” appetite for gold. The Council said they have attained a significant milestone, maintaining a continuously solid pace of gold purchases. The buying exceeded 1,000 tons for the third consecutive year in 2024. They highlighted the US plan to impose a 25% tariff on car imports and retaliatory tariffs on other nations as key factors. "We expect gold to continue its upward trajectory," they stated, predicting further gains. Commodity strategists revising gold price forecast Thailand highlight support at THB 75,800, with upside risks if U.S. inflation prints higher. Thai jewelry exports are also up 7%, signaling healthy downstream demand.