Gold Price Rises as Dollar Weakens and Bond Yields Fall
Today, the gold price opened 50 baht higher than on Friday, thanks to a recovery in foreign markets. The weakening of the US dollar and the fall in US bond yields have contributed to this increase.
The Gold Traders Association has announced that the price of gold in the country is 50 baht higher than the market close on Friday. Although foreign prices have been rising, the appreciation of the baht has limited the impact on domestic gold prices.
The current rates for gold are as follows:
- Gold bars: Buy back at 31,750.00 baht/gold baht and sell out at 31,850.00 baht/gold baht.
- Gold jewelry: Buy back at 31,184.12 baht/gold baht and sell out at 32,350.00 baht/gold baht.
In the domestic market, gold is priced at $1,943.00 per ounce, based on the exchange rate of 34.66 baht per dollar.
Following the weakening of the dollar, the Thai baht has appreciated in the open market today, according to economic data.
Today’s gold price on the market has increased by 50 baht due to the weak baht, making gold more expensive.
The price of gold futures in the New York market has also shown signs of recovery.
Gold futures in New York closed higher on Friday, August 4, after three consecutive days of losses. The increase was supported by the weakening dollar and the fall in US government bond yields. This was triggered by lower-than-expected US employment numbers, indicating a slowdown in the US economy. There are also expectations that the US Federal Reserve (Fed) may reduce the pace of interest rate increases.
The US Department of Labor released non-farm payrolls figures for July, revealing that only 187,000 jobs were added, 200,000 less than the market estimate. However, the unemployment rate fell to 3.5%, below expectations of 3.6%.
In the COMEX market, gold prices for December delivery rose $7.30, or 0.4%, to close at $1,976.10 per ounce. However, it should be noted that gold prices fell by 1.2% in the last week.
The dollar index was down 0.52% to 102.0145 on Friday, and US Treasury yields also saw a decline. These factors have contributed to the rise in gold prices.
gold price today The market opened 50 baht from Friday. recovery in foreign countries After the US dollar weakened and US bond yields fell. weaken the dollar
The Gold Traders Association Announce the price of gold in the country today (August 5), which is the price during the weekend. An increase of 50 baht from the close of the market on Friday. with foreign prices rising but the baht appreciation caused domestic gold prices to rise not much
Gold bars buy back 31,750.00 baht/gold baht and sell out 31,850.00 baht/gold gold jewelry buy back 31,184.12 baht/gold baht and sell out 32,350.00 baht/gold baht
domestic gold Refer to the spot market at $1,943.00/oz. and based on the Thai baht, 34.66 baht / dollar
Thai baht today open market appreciation after the dollar weakened according to economic data
Today’s gold price closed the market along with 50 baht from the weak baht making gold expensive.
The price of recovered gold futures in the New York market.
New York gold futures closed higher on Friday, August 4 after three straight days of losses, supported by the dollar. and US government bond yields fell Because US employment numbers were lower than expected. which shows that the US economy is slowing down AND may cause the US Federal Reserve (Fed) to slow down rate increases.
The US Department of Labor released non-farm payrolls figures for July. 187,000 jobs were added, 200,000 less than the market estimate of 200,000. The unemployment rate fell to 3.5%, below expectations of 3.6%.
Gold prices in the COMEX market to be presented in December. up $7.30, or 0.4%, to close at $1,976.10/oz. In the last week, it fell by 1.2%.
The dollar index was down 0.52% to 102.0145 on Friday, and US Treasury yields were lower. helping to boost gold prices
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