Traders predict domestic gold price bump in MayTraders predict domestic gold prices, which peaked at 34,550 baht per baht-weight during the Chinese New Year, will be an uptrend again in May. Domestic gold prices have eased by 300 baht from the Lunar New Year peak, as global prices edged down to $2,019, said Jitti Tangsitphakdee, president of the Gold Traders Association. The expected cut of the US policy rate by 0.25% in May should clearly drive up domestic gold prices, he said. In the future, Mr Jitti predicts domestic gold prices could reach 40,000 baht per baht-weight, though not during this year. The weak property and equity markets made investors seek other opportunities, with gold benefiting as a result, according to World Gold Council.
