Gold Plunges 250 Baht: Will the Fed Meeting and US Election Spark a Price Rebound
- Gold prices experienced a significant drop in the domestic market this morning, with a reduction of 200 baht per gold baht compared to the previous day.
- According to Hua Seng Heng Gold Futures Company Limited, gold prices plummeted towards the end of last week.
- The price of gold bars is expected to fall in the short term.
Gold Price Update: Domestic Sales and Global Market Trends
Gold prices experienced a significant drop in the domestic market this morning, with a reduction of 200 baht per gold baht compared to the previous day. This shift is attributed to the fluctuations in the global market, as reported by the Gold Traders Association at 9:02 am.
Current Gold Prices
- Gold bars: Buy at 43,800.00 baht per gold baht, sell at 43,900.00 baht per gold baht.
- Gold jewelry: Buy at 43,008.92 baht per gold baht, sell at 44,400.00 baht per gold baht.
According to Hua Seng Heng Gold Futures Company Limited, gold prices plummeted towards the end of last week. This decline followed a record high of $2,789 after the US non-agricultural employment increased in October, with only 12,000 jobs added, the smallest increase since December.
The price of gold bars is expected to fall in the short term. However, investors are closely watching two crucial factors: the US election and the meeting of the United States Federal Reserve (Fed), which may impact gold price volatility. For those seeking short-term profits, it may be wise to sell and then wait for a new buying opportunity.
As of 10:19 am, the price of gold dropped by an additional 50 baht, resulting in:
- Gold bars: Buy at 43,750 baht per baht, sell at 43,850 baht per baht.
- Gold jewelry: Buy at 42,963.44 baht per baht, sell at 44,350 baht per baht.
Related Topics
- Gold prices in our country
- US politics and its impact on gold prices