By The Nation
The SET Index on Friday (July 31) closed at 1,328.53, up 12.79 points or 0.97 per cent, while total transactions stood at Bt61.280 billion.
A stock analyst at Phillip Securities (Thailand) expected the index next week to fluctuate between 1,280 and 1,340.
"We expect the market to gain positive sentiment, but negative sentiments, such as the Covid-19 pandemic and the US president's moves before the presidential election would pressure the index," the analyst said.
"Besides, we expect the MPC to maintain the interest rate at a low level during the meeting next week."
The price of gold yesterday stood at US$1,976.67 per ounce, while the price in Thailand was Bt29,100 per baht weight.
A gold analyst at YLG Bullion International said investors could buy gold for short-term speculation or sell some gold to take profits to cope with market volatility.
"If gold price does not drop below the support level between $1,954 and $1,959 per ounce, the price would rise to the resistance level between $1,984 and $2,000 per ounce," the analyst said.
"However, investors should beware of mass sell-offs in gold if the price rises to the resistance level."