Gold Price Today Remains Stable Ahead of Fed Meeting
On July 14, 2023, the gold market closed unchanged from the previous day as investors awaited the Federal Reserve’s upcoming meeting on July 25-26. Despite reaching its highest level in over a month, the market experienced a downward adjustment due to selling pressure and profit-taking.
Gold Traders Association Updates
The Gold Traders Association announced that the buyback price for gold bars is 31,950.00 baht/gold baht, while the sell-out price is 32,050.00 baht/gold baht. Meanwhile, for gold ornaments, the buyback price is 31,381.20 baht/gold baht, and the sell-out price is 32,550.00 baht/gold baht.
Referring to the spot market, domestic gold is priced at $1,957.00 per ounce, equivalent to 34.60 baht/dollar.
Gold futures have maintained stability at $1,960 since midweek.
Hua Seng Heng gold shop suggests that the selling pressure on gold prices is expected to stabilize after reaching its highest level in a month.
As the US inflation figures for CPI and PPI tend to slow down, gold prices have risen to a one-month high due to a weaker dollar. This situation may influence the Federal Reserve’s decision regarding interest rates. While some Fed officials, including Christopher Waller, continue to support raising rates, the strength of the US labor market remains a prominent factor.
The gold price today has seen a boost of 100 baht amid a weakening dollar. However, the Thai baht market has weakened slightly due to the falling value of the dollar.
Economic Indicators to Track
Upcoming tonight, the United States will release its July Consumer Confidence Index, which is expected to rise to 65.5 from June’s figure of 64.4.
Gold Price Trend and Investment Strategy
After surpassing the $1945-1950 range, a small sell-off is anticipated in spot gold prices. Short-term support levels are observed at $1,950 (equivalent to 32,210 baht) and $1,940 (equivalent to 32,140 baht), with resistance noted at $1,967 (equivalent to 32,380 baht) and $1,103,020 baht (GF10Q23 Futures). Additionally, there is a support line at $1,975 and $1,965, while resistance levels are set at $1,992 and $1,995.
For investment strategies, speculative buying is recommended at a gold spot price around $1,940 (GF10Q23 32,140 baht), with sell points for cutting losses at $1,930 (GF10Q23 32,060 baht). Investing in Online Gold is also advised, with buying suggested for the GOU23 contract price at around $1,965 and a stop loss sell point at $1,955.
World Gold Price and 96.5% Gold Bar Price
- World Gold Price: Support at $1,950 and $1,940, Resistance at $1,967 and $1,970
- 96.5% Gold Bar Price: Support at 32,000 and 31,900 baht, Resistance at 32,200 and 32,300 baht
gold price today The market closes unchanged from the previous day. The market awaits the Fed meeting on July 25-26 after rising to the highest level in more than a month.
Gold Traders Association When announcing the gold price today (July 14, 2023), the market closes unchanged from the previous day. During the opening period, the market rose strongly according to foreign countries. But during the day, adjust down According to the pressure to sell and take profit
Gold bars buy back 31,950.00 baht/gold baht and sell out 32,050.00 baht/gold gold ornaments buy back 31,381.20 baht/gold baht and sell out 32,550.00 baht/gold baht
domestic gold Referring to the spot market at $1,957.00 per ounce and based on the Thai baht, 34.60 baht / dollar
Gold futures have been steady at $1,960 since midweek.
Hua Seng Heng gold shop shows that the gold price trend Gold price selling pressure may be stable after rising to the highest level in 1 month
Gold price, spot, yes, intraday band stable After rising to a one-month high from the weakest dollar in more than a year after US inflation figures, CPI and PPI tend to slow down’ n continuous. This could be a factor for the Fed to stop raising interest rates. However, there are Fed officials who continue to support raising rates, including Christopher Waller, one of the Fed governors. It also supports the Fed to raise interest rates twice more this year as the US labor market remains very strong.
The price of gold today jumped 100 baht, supporting the weakening dollar.
Thai baht today Market a little weak The way the dollar falls
Economic numbers to follow
Tonight the United States will release its July Consumer Confidence Index for the University of Michigan. The market is expected to rise to 65.5 from 64.4 in June.
gold price trend
After the gold price rises above the 1945-1950 dollar level, it is expected that spot gold prices will experience a small sell-off. In the short term, gold has support at $1,950 (GF10Q23 32,210 baht) and $1,940 (GF10Q23 32,140 baht), and resistance at $1,967 (GF10Q23 32,380 baht) and $1,103,020 baht Golds (GF10Q23 Futures). , there is a support line of $1,975, and $1,965, while resistance is at $1,992 and $1,995.
investment strategy Speculative buying is recommended. Gold spot price around $1,940 (GF10Q23 32,140 baht) with sell points to cut loss at $1,930 (GF10Q23 32,060 baht).
Investing in Online Gold is recommended to buy for speculation. The contract price of GOU23 is around $1,965 with a stop loss sell point at $1,955.
world gold price
Support $1,950 and $1,940 Resistance $1,967 and $1,970
96.5% gold bar price
Support 32,000 and 31,900 baht Resistance 32,200 and 32,300 baht
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