Today’s domestic gold price rose by 50 baht, supporting jewelry sold out at 28,800 baht, in line with international gold prices that rose through the 1,800 resistance level, supported by weaker dollar – the market expected the Fed to slow down QE limits.
gold trade association Announcing the price of gold in the morning of August 24, 64, the first time, increased by 50 baht, resulting in 96.5% gold bars sold at 28,300.00 baht / gold baht and bought at 28,200.00 baht / gold baht, while 96.5% gold jewelry is sold at 28,800.00 baht / gold baht and buy at 27,697.32 baht / gold baht while the foreign gold price (Gold Spot) 24 hours ago Moved at $1,802.39 an ounce, up $23.91, or up 1.34%.
Hua Seng Heng Gold Futures Company Limited It states that spot gold prices yesterday rose above the $1,800 resistance level as the dollar weakened. Predicting the heavy spread of the COVID-19 virus especially the delta species May cause the Federal Reserve (Fed) to delay the time to cut the quantitative easing measures (QE) and purchasing managers’ index (PMI) for the US manufacturing and service sectors in the month. August dropped to level 4, the lowest level since a month. Dec last year The World Gold Fund (SPDR Gold Trust) sold 4.95 tonnes of gold after selling 10.18 tonnes last week.
The U.S. will announce new July home sales tonight, and the market is expected to increase to 698,000 units from 676,000 in June. Jackson Hole Aug. 26-28, with a statement by the Fed chair on Aug. 27.
The trend of gold prices is expected to begin to decline due to profit taking. But it is likely to test resistance at $1,810, which is a 200-day moving average. If it crosses, there will be a bright trend with next resistance at $1,820 and key resistance at $1,833, while support is at $1,790. and $1,780