Gold Remains Highly Volatile, Global Brokers and Kasikorn Research Center Diverge, Advise Gradual Accumulation

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The gold market in the second half of 2026 continues to face high volatility, with global gold prices falling nearly 29% from an all-time high of 5,595 US dollars per ounce to below 4,000 dollars as of July 17, 2026. Meanwhile, domestic gold prices in Thailand dropped 2.6% from the end of 2025 to 63,200 baht per baht-weight. Kasikorn Research Center views that the price direction in the second half depends on the Middle East situation and Federal Reserve interest rates. If the war de-escalates and inflation slows, the Fed may not raise rates further, which would be positive for gold. However, if the war escalates and inflation accelerates, the Fed may continue tight policies, pressuring prices. On the other hand, Bank of America recommends gradually accumulating when prices are below 4,000 dollars and increasing weight at 3,700 to 3,600 dollars, while maintaining an average target for 2026 at 4,360 dollars, with a chance to reach 6,000 dollars in 2027. Goldman Sachs estimates that the People's Bank of China may buy up to 80 tonnes of gold this year and maintains a year-end target of 4,900 dollars. Meanwhile, MTS Gold advises regular gold savings instead of using loans for speculation. Overall, most analysts still view gold as an important asset for long-term risk diversification, supported by buying from central banks worldwide.

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GOLD
± MixedMonetaryrelevance

Gold price volatility is driven by Fed rate expectations and Middle East geopolitics; the article reports conflicting views on future direction.

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MTS Gold แม่ทองสุกPrivate± Mixed
relevance

MTS Gold is mentioned advising regular gold savings, but the article does not discuss the company's own business or financials.

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