Fed Interest Rate Concerns Weigh on Gold Price Index in May, Expected to Average 69,800 – 74,000 Baht

The Gold Research Center has announced that the gold price confidence index for May 2569 has dropped compared to April 2569, falling from 76.80 points to 75.56 points—a decline of 1.24 points or 1.62%. Key factors affecting gold prices this month include concerns over potential interest rate increases by the Federal Reserve, the monetary policy stance of the new Federal Reserve chairman, and Middle East tensions between the U.S.-Israel coalition and Iran.

In a survey of 319 respondents regarding gold purchasing intentions for May 2569, 150 respondents (47%) expressed uncertainty about buying gold, while 104 respondents (33%) expected to purchase gold and 65 respondents (20%) anticipated not buying. Among major gold traders and futures brokers surveyed, 5 respondents (42%) believe gold prices will decline in May, 4 respondents (33%) expect prices to remain similar to April levels, and 3 respondents (25%) anticipate price increases.

Major gold traders project the following price ranges for May 2569: gold spot prices are expected to average $4,220-4,797 per ounce, domestic 96.5% purity gold bars should trade around 69,800-74,000 baht per baht weight, and the Thai baht is anticipated to range between 31.96-33.14 per U.S. dollar.

For gold investment strategy in May 2569, prices are expected to fluctuate in a consolidation pattern following recent gains. While safe-haven demand remains strong amid economic uncertainty, investors should adopt a gradual profit-taking strategy when prices rally and wait for pullbacks to re-enter. If gold maintains support above key technical levels, medium-term upside potential remains, though investors must closely monitor global economic data and geopolitical developments as these will significantly influence gold's direction.