Thai Baht Reaches 31-Month High, Impacting Gold Prices and Stocks

The Thai ‌baht has ⁤strengthened to 32.39 baht/dollar, its highest value in 31 months, since February 2022. This surge comes​ as foreigners ‌sold Thai bonds worth ⁢8,500 million baht. The Bank ‍of Thailand⁤ (BoT) is‌ set ‌to launch⁤ the project “Your Data: Your data to ⁤financial‌ services that meet⁤ your needs” on October 3,⁢ 2024, with Deputy Prime Minister and ‌Minister of Finance, Mr. Pichai Chunhavajira, and Governor of the Bank of Thailand, Mr. Setthaput Suthiwat Narueput, in attendance.

Thai stocks closed at 1,450.15 points, down 4.88 points, with a trading value of 60,645.94 million baht. Foreigners sold a net 1,811.83 million baht⁤ (SET+MAI).

Global Market Trends

Hong ​Kong’s Hang Seng Index closed higher today, following the​ announcement of⁤ major​ economic stimulus measures by Chinese officials. The ⁤Hang Seng Index closed at 20,632.30 ‍points,‌ up​ 707.72 points.

Tokyo’s Nikkei stock index closed ⁤up over 2%, led by export stocks that ​benefited from the yen’s depreciation. Investors predict that Sanae Takaichi, the Minister of Economic Security, will win the election for the leader of the Japanese‍ government ⁢party. The Nikkei index ‍closed at 39,829.56 points,​ up​ 903.93 points.

Gold Prices Affected by Baht’s Strengthening

The price of gold (96.5%) in the ​country decreased by 250 baht per gold baht, following⁤ the‌ baht’s appreciation. The market⁢ opened this morning with a price drop⁤ of ⁤150 baht per gold baht, which gradually fell ‍to 100 baht per gold ⁢baht⁢ by 5:03 pm. The price of gold bars ​was bought at⁤ 40,800 baht per gold baht and sold​ at 40,900‌ baht per gold baht. Buy gold baht at 40,067.88 baht per gold baht, sell at 41,400 baht gold baht per gold baht.

The strengthening of ‌the baht has had a significant impact on the price of gold, with a decrease of 250 baht per gold baht.