Renewed hostility between the US and Iran could cause global gold prices to plunge to US$3,600-3,800 an ounce, or 60,000 baht per baht-weight for domestic gold bar, especially if oil prices rise to $90-100 a barrel and remain at that level for more than a month, according to Thailand's leading gold trader MTS Gold.
Kritcharat Hirunyasiri, chairman of MTS Gold, said the metal faces downside risks for 1-2 months from oil-driven inflation and potential tightening by the US Federal Reserve.
