Today’s domestic gold price has risen by 150 baht, supporting jewelry that is still sold out at 28,750 baht. On the foreign side, gold during the day has declined due to profit taking. But during the night there was a strong buy back from the US. The manufacturing index fell to a record low.
gold trade association Announcing the price of gold in the morning of August 17, 64, the 1st time, increased by 150 baht, resulting in 96.5% gold bars sold at 28,250.00 baht / gold baht and bought at 28,150.00 baht / gold baht, while 96.5% gold jewelry sold out at 28,750.00 baht / gold baht and buy at 27,636.68 baht / gold baht while the foreign gold price (Gold Spot) 24 hours ago Moved at $1,786.89 / ounce, up $8.28, or up 0.47%.
Hua Seng Heng Gold Futures Co. said yesterday that spot gold prices fell in midday trading. Due to selling pressure, take profit. After Friday, gold prices rose to a one-week high, but during the night there was a strong buy in gold as the US announced the Federal Reserve’s (Fed) manufacturing index for the month of New York. August dropped to 3 and below market expectations of 29.0 after rising to 43.0 in July, a record high. As a result, gold prices rose for the fourth day in a row. The World Gold Fund (SPDR Gold Trust) sold 1.16 tonnes of gold yesterday after selling 3.5 tonnes of gold last week.
Tonight, follow Fed Chairman Jerome Powell’s statement, expecting investor interest in the outlook for the Fed’s monetary policy. The US retail sales for the month of July are expected to decline 2% from June, up 0.6% in June. Industrial production in July, the market expected to increase 0.5% from the previous month. Jun, up 0.4%
Gold prices are expected to move sideways up, with gold having a key resistance of $1,790. If it breaks, the next resistance is $1,800, while support is $1,770 and $1,760.
