The Gold Trade Association announced the gold price on Friday, February 21, 2025, closing the market with a 400 baht drop from the previous day. Throughout the day, the price fluctuated eight times. Hua Seng Heng recommends selling short-term profits and waiting for a new round of purchases.

• Gold bodies bought back at 46,500.00 baht/baht, gold sold at 46,600.00 baht/baht gold
• Gold bought and returned at 45,661.92 baht/baht, gold sold at 47,100.00 baht/baht
• 1 salung gold price includes the premium value at 12,150 baht
• Gold 2 salung, price includes a preparation fee of 23,800 baht
• Half salung gold, price includes 6,325 baht

The gold price in the country is referenced to the spot market at $2,923.50 per ounce, with the baht trading at 33.66 baht per dollar.

Overall, past movements indicate that gold prices fell during the daytime. However, it is considered that the price of gold has risen for the eighth consecutive week. President Donald Trump’s customs tax measures still create concerns about a potential trade war, supporting the purchase of gold as a safe asset. Although there were some profit sales on Friday, the price of gold is pressured by a slight appreciation of the U.S. dollar. Meanwhile, gold exports from Switzerland in January increased annually, especially exports to the United States, which rose to the highest level in 13 years.

Economic indicators to watch include the U.S. PMI for the production and service sectors, expected to rise to 51.3 and 53.0, respectively. Additionally, January’s secondhand house sales and the University of Michigan’s consumer confidence index will be tracked.

Gold began to experience profit-selling forces, causing the technical signal of gold prices in the 120-minute timeframe from the MACD signal to shorten the short-term, with support at $2,915. This may face additional sales, which could pressure the price of gold to adjust to the next support at $2,900 and potentially test $2,875-2,880 in the next order.

The support levels for the global gold market are $2,915 and $2,900, while resistance levels are $2,950 and $2,960. If the gold price can stand above the support of $2,915, it is advisable to buy in that support area. However, if it drops below $2,915, it is recommended to open a short position with a loss point at $2,930.

The price of gold rods slightly fell. The technical signal from MACD has continuously slowed down, causing the trend of gold prices to decrease. If holding gold, it is advisable to sell short-term profits and wait for a new round of purchases.

Gold prices have shown resilience despite recent fluctuations. The ongoing trade tensions and economic uncertainties continue to drive demand for gold as a safe-haven asset. Investors are closely watching the upcoming economic indicators, particularly the PMI and consumer confidence data, which could provide insights into the broader economic outlook.

For U.S. investors, the appreciation of the U.S. dollar has put some downward pressure on gold prices. However, the long-term bullish trend in gold, driven by geopolitical risks and economic uncertainties, remains intact. Investors should consider diversifying their portfolios with gold to hedge against potential market volatility.

In recent years, gold has proven to be a reliable safe-haven asset during times of economic turmoil. For instance, during the 2008 financial crisis, gold prices surged as investors sought refuge from market volatility. Similarly, the COVID-19 pandemic saw a significant increase in gold prices, reflecting investor concerns about economic stability.

While some analysts argue that the recent appreciation of the U.S. dollar could dampen gold prices, the long-term outlook for gold remains positive. The ongoing trade tensions and geopolitical risks are likely to continue supporting gold prices. Investors should monitor economic indicators and market trends closely to make informed investment decisions.

In summary, while gold prices have experienced short-term fluctuations, the long-term bullish trend persists. Investors should consider the broader economic context and geopolitical risks when making investment decisions. Diversifying portfolios with gold can provide a hedge against market volatility and economic uncertainties.