Gold Rises 50 Baht as Dollar and Bond Yields Drop
Today’s gold market closed with a 50 baht increase from Thursday’s price, indicating a recovery after a drop in the dollar and bond yields. Investors are anticipating a potential increase in interest rates by the Federal Reserve to curb inflation.
Gold Market Update – September 8, 2023
The domestic gold market closed lower today compared to the morning opening, but still showed a positive trend with a 50 baht increase from Thursday. Foreign gold prices also witnessed a rise in the afternoon session.
- Gold bars buy back at 32,250.00 baht/gold baht and sell out at 32,350.00 baht/gold baht
- Gold jewelry buy back at 31,669.24 baht/gold baht and sell out at 32,850.00 baht/gold baht
In the spot market, the domestic gold price is set at $1,924.50 per ounce, equivalent to 35.51 baht per dollar.
Internationally, gold prices saw a modest increase of 100 baht, moving within a narrow range. The Thai baht appreciated slightly against the dollar, projecting a potential cash inflow.
Gold futures prices for December delivery experienced a minor upward movement.
Gold prices in Asia rebounded from a 10-day low due to the weakening dollar and negative economic data from Japan. Additionally, tensions between the United States and China pushed investors towards safer assets, including gold.
However, gold prices have been weighed down throughout the week by expectations of a potential interest rate increase by the Federal Reserve. This comes amid a strong US labor market and rising inflation concerns.
Spot gold recorded a 0.3% increase, reaching $1,925.04 per ounce, while gold futures for December delivery rose by 0.3% to $1,948.95 per ounce. Nonetheless, gold prices in both markets experienced a 0.7% decline this week.
- An intense pursuit unfolded as a highway inspector’s sniper, known as “Nong,” dealt with a villain and hoped to escape.
- The payment of the “children’s subsidy” for September 2023 has been postponed.
- Questions arose about why Thai women’s volleyball players wear armbands.
Today’s gold price closes the market up 50 baht from Thursday. Recovery after drop in dollar and bond yields Although investors anticipate the Fed may increase interest rates to curb inflation
The Gold Traders Association When announcing the domestic gold price on September 8, 2023, the market closed lower than when the market opened in the morning. But still moving up from Thursday’s market close of 50 baht, with foreign gold prices squatting in the afternoon
Gold bars buy back 32,250.00 baht/gold baht and sell out 32,350.00 baht/gold gold jewelry buy back 31,669.24 baht/gold baht and sell out 32,850.00 baht/gold baht
domestic gold Referring to the spot market at $1,924.50/oz. and based on the Thai baht, 35.51 baht / dollar
Gold price today “up 100 baht” in foreign countries, moving in a narrow frame
Thai baht today Opening the market appreciating a little Park Dollar expected cash inflow
Gold futures prices for December delivery. move up a little
Gold prices in Asia were just up from a 10-day low as the dollar slipped from a near six-month high and was boosted by weak Japanese economic data. and relations between the United States and China worsened. Making it safe for investors to buy assets.
However, this week, gold prices have been weighed down by expectations that the Federal Reserve (Fed) could raise interest rates. After a strong US labor market and expectations of rising inflation,
Spot gold was up 0.3% at $1,925.04/ounce. and gold futures Delivered in Dec. up 0.3%, moving to $1,948.95/oz. But the price of gold in both markets fell this week by 0.7%.
hurry! Outstanding “Nong”, the highway inspector’s sniper after the villain fights and hopes to escape
Postponement of payment of “children’s subsidy” for September 2023
Questions about Thai women’s volleyball Why wear an armband?
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