Today's financial events are really full-on. Starting from gold prices dropping sharply, making me ask what’s happening, to tonight’s Fed meeting that the market is watching closely without blinking.

Let's start with gold. The current price has plummeted to $4,600, nearly 18% below its peak. Usually, during tensions between Trump and Iran, gold would surge as a safe-haven asset. But this time, what happened? When Trump rejected the deal, oil prices shot past $112. Energy costs rose, inflation is set to jump, interest rates remain high, and gold, which yields no returns, is heavily sold off. There are also reports that Russia is selling gold to stabilize the situation, flooding the market with supply. So, gold is under heavy pressure.

Equally important is tonight’s FOMC meeting, with US economic data coming out surprisingly strong. Consumer confidence in April soared beyond expectations. Inflation forecasts for next year have risen to 4.7%, the highest since 2025. The Fed probably won't be quick to cut rates easily. Importantly, this meeting is Powell’s last round before passing the baton to Kevin Warsh, so the market is watching closely to see what Powell will say.

Turning to the Thai stock market, today the index is likely to fluctuate sideways within the range of 1,470 to 1,490 points. The energy sector benefits from crude oil prices hitting over $100. Additionally, the highlight is the Thai Plus Help project, which will open registration in May, with the government supporting up to 60% of expenses. This cash giveaway measure is good for overall purchasing power and is positive for wholesale B2B stocks like CPAXT, which are expected to see increased orders to meet this new demand.

For trading plans in such a highly volatile market, I recommend waiting and observing the situation first. Especially tomorrow, when the Q1 GDP and PCE inflation figures—key indicators the Fed focuses on—will be announced. If inflation comes out high, gold might be pushed down to test key support levels. But if the economy slows, gold could rebound. Short-term traders should look for selling opportunities when prices bounce but fail to break resistance. Long-term holders are advised to sit tight and wait for clear reversal signals around major support zones. When the market swings strongly, holding cash and waiting for the right direction is a smart strategy.