Bangkok: Gold price in Thailand. During the Chinese New Year festival Made a new high today. During the day trading, gold bars sold for 34,550 baht per baht and gold jewelry sold for 35,050 baht per baht, expected to increase further. Traders adjust the format to make small pieces and sell them as gold festival gifts in the shape of dragons, popular during Chinese New Year. Mr. Jitti Tangsitphakdee The president of the Gold Traders Association said that after the red envelopes were issued today, It is expected that customers will start buying gold during Chinese New Year tomorrow (10 Feb.), but with the price of gold becoming more expensive. Expect to buy it as a gift in a smaller size. Each shop makes gold and sells it as gifts at prices that are easier to buy, such as dragon-shaped gold. gold gift card Gold symbol to prepare for Valentine's Day, worth more than 2,000 baht As for the gold price trend In Thailand today it is making new highs. But the world market is not at a new high. This is a result of th e baht depreciating. However, at this time it is considered that The world gold market price will move up further. If the US Federal Reserve (Fed) cuts interest rates Global geopolitical conflicts such as the Russian-Ukrainian war Hamas-Israel group There is still continuous It is a factor supporting the purchase of gold as a safe asset. It is estimated that The world gold price may reach 2,100 US dollars/ounce. As for gold bars in Thailand, it may go up to 35,000 baht per baht, but it probably won't reach 40,000 baht. On February 8, 2024, the price of the COMEX (Commodity Exchange) gold contract for delivery in April decreased by 3.8 dollars or 0.18%, closing at 2047.9 dollars/ounce. Pressured by the strengthening of the dollar. and the rise in the US 10-year bond yield, rebounding above 4.1%. The World Gold Council (WGC) expects that the demand for gold is likely to increase. Due to the tense geopolitical situation in many countries. It is a factor supporting the buying power of gold as a safe asset. And it is expected that central banks around the world will continue to purchase gold into the reserve system. This will be a factor supporting the price of gold. The baht today reached its weakest level in two and a half months at 35.962 baht/USD amid the strengthening of the US dollar. Supported by the direction of US bond yields moving up. and weakened in line with the overall picture of other currencies in Asia, led by the yen.-511-Thai News Agency Source: Thai News Agency
Monday, September 16, 2024