By The Nation
The SET Index on Friday (July 24) closed at 1,340.92, down 18.73 points or 1.38 per cent, with total transactions of Bt46.529 billion.
A stock analyst at Trinity Securities expected the index next week to fluctuate in a narrow range between 1,300 and 1,380 due to a flare-up of tensions between the US and China, and listed companies reporting their second-quarter performance.
"Also, we advise investors to follow the Fed meeting from July 28 to 29 as the [US central bank] will issue additional financial measures to stimulate the economy," the analyst said.
The price of gold on Friday stood at US$1,893.68 per ounce, while the price in Thailand was Bt28,400 per baht weight.
A gold analyst at YLG Bullion International advised investors to buy gold for short-term speculation.
"If the gold price does not drop below the support level of between $1,883 and $1,878 per ounce, the price will rise to the resistance level between $1,898 and $1,911 per ounce," the analyst said.
"If the price does not rise over the resistance level, investors who cannot tolerate risks can gradually sell some gold to take profits."