Global gold prices could drop to US$4,200 an ounce in this cycle, translating to a domestic price of around 66,000 baht, as the market has begun pricing in the possibility of a Federal Reserve interest rate hike in the second half of the year amid rising US inflation, says the Gold Traders Association (GTA).
Jitti Tangsithpakdi, president of the GTA, said bullion had fallen by $100 as of midday yesterday to a two-month low of $4,387 an ounce following three consecutive days of declines.
