Gold prices plummet 450 baht! Ornamental gold is selling at 68,950 baht. Watch out for rising oil prices and concerns about a Fed interest rate hike.

Today's gold price (9 Sept.) opened at a price of 450 baht/baht of gold lower than yesterday's closing price. Gold jewelry selling price at 68,950.00 baht/baht of gold.

On September 9, 2026, as announced by the Gold Traders Association, the price of gold (96.5% purity) for today opened at 9:01 AM. For the domestic gold market, the price decreased by 450 baht per baht of gold compared to yesterday's closing price.

The selling price of gold ornaments is 68,950.00 baht per baht of gold, while the buying price is 66,597.88 baht per baht of gold.

For gold bars, they sold at 68,150.00 baht/baht of gold and bought at 67,950.00 baht/baht of gold. The gold spot was at 4,374.00 dollars per ounce.

Mr. Poon Panichpibul, Money and Capital Market Strategist at Krungthai GLOBAL MARKETS, Krungthai Bank, revealed that, regarding gold prices, even though the US dollar has gradually weakened, the price of gold (COMEX gold futures for December 2026 delivery) has continued to fall by more than -1% to the level of $4,390 per ounce, due to concerns about the situation in the Middle East that may support interest rate hikes by major central banks.

Gold prices are sluggish! Rising oil prices are fueling inflation concerns, leading investors to increase expectations of a Fed interest rate hike in September.

Gold prices edged lower as oil prices surged to near $100 per barrel, fueling inflation concerns and boosting expectations of a September Fed rate hike. Investors are watching for U.S. CPI and PPI data.

CNBC reported that gold prices edged lower on Tuesday after rising oil prices fueled concerns about inflation and increased expectations that the Federal Reserve (Fed) would raise interest rates in September. Investors are awaiting U.S. inflation data for further clues about the outlook for monetary policy.

Spot gold prices fell 0.4% to $4,385.85 per ounce at 2:16 PM Eastern Time, after earlier intraday highs of $4,442.70. Meanwhile, December gold futures fell 1% to $4,431.00.

“Gold is trading within a range, constrained by the increased likelihood of interest rate hikes, which continues to hinder market momentum,” said Daniel Pavilonis, Senior Market Strategist at StoneX.

Oil prices hit their highest levels in weeks after the Houthi rebels in Yemen, supported by Tehran, attacked Saudi Arabia's energy infrastructure and Tehran threatened the United States with "economic warfare."

Brent crude oil prices approached $100 per barrel, reaching $99.46, the highest level since July 24, fueling concerns about inflation.

Peter Grant, vice president and senior metal strategist at Zaner Metals, said the market is still absorbing the stronger-than-expected U.S. employment report and is awaiting the upcoming Consumer Price Index (CPI) and Producer Price Index (PPI) data. Meanwhile, higher oil prices are fueling inflation concerns and supporting expectations of a September interest rate hike.

Spot gold prices plunged as much as 2.4% on Friday after data showed U.S. employment grew sharply in August, while the unemployment rate remained stable at 4.1%, reinforcing signs of a strong labor market.

Investors now anticipate a 60% chance that the Federal Reserve will raise interest rates at its monetary policy meeting, according to data from the CME FedWatch tool, up from approximately 50% before the data was released.

U.S. Producer Price Index (PPI) data is scheduled to be released on Thursday, and the Consumer Price Index (CPI) figures are scheduled to be released on Friday.

While gold is generally viewed as a hedge against inflation, rising interest rates are likely to reduce its attractiveness, as it does not yield interest returns.

For other precious metals, silver rose 0.2% to $66.30 per ounce, platinum increased 1% to $1,844.58, and palladium fell 2.6% to $1,351.75.

Investment advice on gold this morning from YLG.

• Yesterday, the price hit resistance at $4,449, which is a downtrend line, causing another pullback. Today, we estimate that if the price fails to break through $4,414, caution is advised as the pullback may not be over. However, if the price maintains support above $4,382, it could be seen as a temporary consolidation before a further upward movement.
• Investment strategy: Wait for a pullback and consider opening a buy position if the price does not fall below $4,381–4,364 (stop-loss if it falls below $4,282).
• Sell ​​for profit if the price doesn't break through $4,424–4,449. If it does break through $4,449, delay selling and sell at the next resistance level. Adjust your trailing stop to lock in profits.

References: cnbc.com , Gold Traders Association.

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