“Global Gold Prices Plunge! Fed–Oil–China Pressure Markets (July 24, 2026) | August Watch: $4,000 Support as the Key Turning Point – SO OK TRADING Analysis: Volatile Market, Yet a Long-Term Accumulation Opportunity”

✨ Gold Price Analysis – July 24, 2026 SO OK TRADING : FAST • SHARP • RELIABLE

Global gold prices plunged sharply, dropping more than $100 per ounce in a single day. The surge in Brent crude oil to $100 per barrel and growing concerns that the U.S. Federal Reserve (Fed) may raise interest rates sooner than expected strengthened the U.S. dollar and triggered heavy selling in the gold market worldwide.

In Thailand, 96.5% gold bars fell immediately by 700 THB in the morning session, with selling at 64,600 THB and buying at 64,400 THB. The Thai baht weakened slightly to 33.82–33.84 per USD, cushioning domestic gold prices from falling as steeply as global levels.

 
⚡ Key Market Pressures

Oil prices surged to yearly highs → fueling inflation fears
Fed expected to hike rates in September (83% probability)
China’s regulatory changes → triggered forced liquidations
Technical signals: broke below Pivot $4,076 → RSI weakened
 
Key Support & Resistance Levels

Gold Spot: Support $4,012 / $4,000 / $3,975 | Resistance $4,076 / $4,113
Thai Gold: Support 64,300 – 64,200 THB | Resistance 65,100 – 65,300 THB
 
Investment Strategies

Short Term: Sell rallies, buy dips; avoid chasing prices
Medium–Long Term: Uptrend structure remains intact; gradual accumulation at support levels is an opportunity
InterGOLD Advice: “Sit tight & watch” — wait to see if weekly close holds above $4,000
 
Outlook – August 2026

Gold Spot: Expected sideways movement in $3,875–$4,125 range
Thai Gold: Support 64,000 THB | Resistance 65,500–65,600 THB
Key factors to watch:

Fed’s monetary policy under new chairman Kevin Warsh
Oil prices and Middle East tensions
Structural buying from global central banks
 
Year-End 2026 Outlook

General Range: $3,800–$4,900 per ounce
Bearish Case: Aggressive Fed hikes + easing Middle East tensions → $3,270–$3,500
Bullish Case: Escalating geopolitical risks + weaker USD → rebound above $5,200
 
Major Financial Institutions’ Views

J.P. Morgan: $6,000 (revised down from $6,300, but expects strong Q4 recovery)
Goldman Sachs: $4,900 (cut from $5,400 due to higher opportunity costs)
HSBC: $4,560 (pressured by strong USD, but downside risks limited)
UBS: $4,675–$5,500 (supported by central bank buying, especially China & Uzbekistan)
Bank of America: $4,360 (down 14% due to high real yields)
 
Thai Gold Year-End (96.5%)

Support: 62,000–63,000 THB
Resistance: 67,500–69,000 THB
Note: Return to 80,000 THB levels seen earlier this year is unlikely under current conditions
 
✨ Summary: Gold is under heavy pressure from interest rate expectations and surging oil prices, yet structural buying from central banks continues to support the long-term outlook. August is expected to be a sideways market, with the psychological $4,000 support as the critical level to watch. By year-end, gold is likely to trade within a wide $3,800–$4,900 range, shaped by Fed policy and geopolitical risks.

 
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