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Gold Price Adjusted 5 Times in Country Today; Foreign Gold Recovers Slightly After Dollar Weakens

The price of gold in the country today has been adjusted 5 times, including the market closing price of the same as yesterday. Foreign gold recovered slightly after the dollar weakened briefly.

The Association of Gold Traders announced the price of gold in the country on January 9, 2024, a total of 5 times, including closing the market at the same price as yesterday.

  • Gold bars are bought back at 33,550.00 baht/baht of gold and sold at 33,650.00 baht/baht of gold.
  • Gold jewellery: Buy back 32,942.68 baht/baht of gold and sell 34,150.00 baht/baht of gold.
  • 1 salung of gold, price including gift is 8,913 baht.
  • 2 salung of gold, price including gift is 17,325 baht.
  • Half a salung of gold, including gift, is 4,706 baht.

Children’s subsidy – elderly living allowance – disabled person’s allowance, first installment 2024, transferred to the account on 10 January.

The Government Savings Bank announces a reduction in the MRR interest rate to 6.845%, effective immediately.

“Seththa” emphasizes that digital wallets can continue. The original schedule started in May.

Domestic gold The spot market is quoted at $2,032.50/oz. and based on a baht value of 35.00 baht / dollar

YLG said that the gold price this morning was moving within the range of 2,027-2,036 dollars, with gold having some opportunity to recover. In response to the dollar index which briefly changed to depreciate after the People’s Bank of China indicated a reduction in bank reserve requirements (RRR) to stimulate economic liquidity. However, in the main picture, gold began to be put under pressured by statements from Fed officials who said the same thing. Inflation is in a period of slowdown. But the Fed can maintain its tight policy. This factor is gradually undermining the view of investors in CME FedWatch who used to believe that the Fed would cut interest rates faster until March 2024, reducing the pressure to only 57%, so gold corrected.

Meanwhile, Hua Sheng Heng analyzed that the spot gold price has recovered after the gold price fell to a 3-week low on concerns that the Fed may not cut interest rates in March, which investors are keep an eye on US inflation numbers this week. Meanwhile, the New York Fed survey forecasts consumer inflation over the next year at 3.0%, the lowest level since January 2021, causing the US dollar to weaken slightly. Support gold prices to recover during the middle of the day.

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