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PM: Thailand Expects to Complete Free Trade Talks with EU Next Year

Thailand's Prime Minister Srettha Thavisin, left, and France President Emmanuel Macron attend a joint statement ahead of a working lunch at the Elysee Palace Monday, March 11, 2024 in Paris. (Teresa Suarez/Pool via AP)
Thailand's Prime Minister Srettha Thavisin, left, and France President Emmanuel Macron attend a joint statement ahead of a working lunch at the Elysee Palace Monday, March 11, 2024 in Paris. (Teresa Suarez/Pool via AP)
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PM: Thailand Expects to Complete Free Trade Talks with EU Next Year

Thailand's Prime Minister Srettha Thavisin, left, and France President Emmanuel Macron attend a joint statement ahead of a working lunch at the Elysee Palace Monday, March 11, 2024 in Paris. (Teresa Suarez/Pool via AP)
Thailand's Prime Minister Srettha Thavisin, left, and France President Emmanuel Macron attend a joint statement ahead of a working lunch at the Elysee Palace Monday, March 11, 2024 in Paris. (Teresa Suarez/Pool via AP)

Thailand expects to complete negotiations over a free trade agreement with the European Union in 2025, Prime Minister Srettha Thavisin said on Tuesday, as the government seeks to draw trade and investment to boost the economy.
Talks on the Thai-EU FTA should be completed within one year and a half, Srettha said in a statement after meeting with French President Emmanuel Macron during a visit to France.
Trade talks resumed last year after having been stalled for nearly a decade. The EU had halted negotiations in 2014 after a military coup ousted the civilian government in the Southeast Asian country.
Thailand exported $21.8 billion worth of goods to the EU last year, including autos, computers, jewelry and electric circuits, government data shows, making the bloc its fourth-largest trading partner.
Macron would support Thailand's request for visa exemption from members of Schengen states, Srettha said, adding the request would be considered after June and hopefully be completed by the end of the year.
Macron will also visit Thailand next year, Srettha added.

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Gold Rebounds to End 6-Session Losing Streak as Dollar Rally Pauses

A view shows ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk
A view shows ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk
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Gold Rebounds to End 6-Session Losing Streak as Dollar Rally Pauses

A view shows ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk
A view shows ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk

Gold prices rebounded on Monday, having posted losses in the previous six sessions, with gains driven by a pause in the dollar's rally, while investors await comments from the Federal Reserve officials for clarity on the interest rate trajectory.
Spot gold rose 1% to $2,587.83 per ounce by 0917 GMT, moving away from a two-month low hit on Thursday. US gold futures were up 0.9% at $2,592.20.
Gold prices last week saw their biggest weekly decline in over three years as expectations of less-aggressive interest rate cuts by the Fed boosted the dollar.
However, the dollar was holding flat below Thursday's one-year high after rising 1.6% last week. A softer dollar makes bullion less expensive for buyers holding other currencies, Reuters said.
"We can look to the dollar for a significant part of the current gold price corrections ... I'm not saying you've found a solid physical floor yet, but clearly, some opportunistic buying is coming in to support the market as well," independent analyst Ross Norman said.
"As the year ends, we will see volatility in gold prices and there'll be some books clearing and profit-taking, regardless of what the Fed does in December."
Recent US economic data has reduced expectations for a December rate cut by the Fed. At least seven US central bank officials are due to speak this week.
Higher interest rates make holding gold, which doesn't pay any interest, less attractive.
"President Trump's inauguration is likely to see an ongoing strengthening of the USD (US dollar), which is negative for gold in the short to medium term. However, as his stated policies are likely to be significantly inflationary in the long term, this will benefit gold," said Michael Langford, chief investment officer at Scorpion Minerals.
Spot silver rose 1.4% to $30.63 per ounce, platinum added 1.4% at $951.59 and palladium climbed 1.8% to $967.62.