PATTAYA, Thailand – GCAP GOLD, a leading Thai investment advisory firm, has highlighted key opportunities for gold investors this week, pointing to two major factors that could steer the precious metal’s direction in the final stretch of October: the upcoming U.S. Federal Reserve (Fed) meeting and developments in U.S.-China trade negotiations. Analysts recommend a “buy on dip” strategy at critical support levels.
Areerat Murachai, Head Analyst at GCAP GOLD, said gold prices have returned to a focal point for global markets due to these twin influences, which could simultaneously support or pressure prices. “This week is critical for gold, as the Fed’s decision and progress in trade talks between the U.S. and China will determine short-term market momentum,” she said.
Markets are closely watching the Fed meeting scheduled for the night of Wednesday, 29 October. There is a 98% probability that the Fed will cut interest rates by 0.25%, following lower-than-expected U.S. consumer inflation data. The Consumer Price Index (CPI) came in at 3%, signaling easing inflationary pressure and raising expectations that the Fed will adopt a more accommodative monetary policy to support the economy. If the rate cut occurs as expected, it could act as a direct positive catalyst for gold prices.
Meanwhile, the U.S.-China trade negotiations are also under close scrutiny. Latest reports indicate both sides have finalized the last details of the trade agreement draft, which will be submitted for review to U.S. President Donald Trump and Chinese President Xi Jinping this week. The two leaders are scheduled to meet on the sidelines of the APEC summit on Thursday, 30 October. President Trump expressed hope that the talks would result in a “comprehensive agreement,” which could ease trade-related pressure while potentially triggering periodic profit-taking in gold.
GCAP GOLD analysts emphasize that, overall, gold remains in a consolidation phase. With major news catalysts expected this week, market participants are advised to proceed cautiously.
Currently, gold prices are pressured below the $4,000 per ounce level, leaving buyers’ key support at $3,850–3,820 per ounce (roughly 58,500–59,000 baht per baht-weighted gold). Maintaining these support levels is critical, as a break could undermine the monthly chart structure and extend the consolidation phase.
If prices hold at this support zone, GCAP GOLD projects a short-term upward trajectory, with potential targets of $4,000–4,100 per ounce (equivalent to approximately 61,300–62,800 baht in Thailand), presenting an opportunity for investors to capitalize on gains.
