Kaohoon Morning Brief – 4 December 2023

Tisco Securities (Tisco) expected Thailand’s SET Index to move in a sideways trend in a limited range as the falling in oil price could pressure the energy sector. A holiday in the middle of the week could result in investors slowing down investment to wait and see the market directions, while monitoring US non-farm payroll and Thai inflation data expected to be released this week.


Gold prices hit a new record high on Monday for the second straight day, reaching $2,110.8 per ounce before giving up gains to $2,100 level.

Analysts said that gold prices are on course to break more records next year and could remain above $2,000 levels as flows continue to seek bullion amid geopolitical uncertainty and weaker US dollar from policy rate cuts.


Markets anticipated that the US Federal Reserve had ended its rate-hike run. It is expected that there could be 125bp of rate cuts by the end of next year.

Meanwhile, markets are predicting five cuts by the European Central Bank in the upcoming year, with the first cut set for March.


Pascal Gauthier, CEO of Ledger, said in an interview with CNBC that 2023 is the year that Bitcoin is preparing for a bull run as sentiment is hopeful for 2024 and 2025. Bitcoin rose 120% so far this year.

Standard Chartered last week reiterated an April target that bitcoin would hit $100,000 by the end of 2024 with a boost from the approvals of numerous ETFs.