Gold Prices Remain Stable During Trading Period
The gold price has not seen any significant movement since the opening of trading, remaining stable in the market. This comes after a period of recovery for gold prices.
Association of Gold Traders Announces Stationary Closing of Trading
The Association of Gold Traders has announced that the trading period has closed with prices remaining stationary. This follows the previous recovery of gold prices.
Gold Price Today Increases by 50 Baht
Today, the gold price has seen an increase of 50 baht. However, the baht has experienced a slight depreciation.
Srettha Optimistic about Tourism Boosting Economy in the 4th Quarter
Srettha, a prominent figure, is heading to Phuket with hopes of a successful 4th quarter. He believes that peak tourism will greatly contribute to the economic growth of the region.
Updated Gold Buying and Selling Rates
- Gold bars are bought back at 31,700.00 baht per gold baht and sold for 31,800.00 baht per gold baht.
- Gold ornaments are bought back at 31,123.48 baht per gold baht and sold for 32,300.00 baht per gold baht.
Spot Market Prices and Exchange Rates
The domestic gold market references the spot market at $1,917.00 per ounce. The exchange rate for Thai baht stands at 35.07 baht per dollar.
YLG Highlights Gold Price Movement
YLG reports that today the gold price started to decline, moving down to the range of $1,912-1,918 per ounce. This downward movement is partly influenced by selling pressures aimed at reducing risk.
Market Awaits Jerome Powell’s Speech and Analysis of China’s Real Estate Crisis
A speech by Fed Chairman Jerome Powell at the Jackson Hole meeting is scheduled for 9:05 pm tonight. Market experts are eagerly anticipating the Fed’s interest rate trend. Additionally, Goldman Sachs warns about the potential impact of China’s real estate crisis on Asia, which could stimulate the dollar and put pressure on gold.
Consider Short Positions If Price Stagnates
Despite recent increases, gold prices have started to fall within a positive range. Traders are advised to take a calculated risk and consider opening short positions for short-term profits. If the price fails to surpass the resistance zone of $1,931-1,947 per ounce, it may be wise to sell and cut losses. On the other hand, if the price surpasses the resistance of $1,947 per ounce, it could signal further potential gains.
Focus on Profit-taking Positions
Traders should closely monitor the price movement and focus on closing profit-taking positions. However, caution should be exercised as long as the price remains above the support level of $1,902-1,884 per ounce.
gold price close There has been no movement since the opening of trading, with prices “stable” after gold prices recovered in the previous period.
Association of Gold Traders Domestic gold price announcement (25 August 2023) trading has closed stationary After the gold price recovered in the previous period
Gold price today “up 50 baht” The baht depreciates a little.
Srettha goes to Phuket, hoping for the 4th quarter, peak tourism pushes the economy
Gold bars buy back 31,700.00 baht/gold baht and sell out 31,800.00 baht/gold gold ornaments buy back 31,123.48 baht/gold baht and sell out 32,300.00 baht/gold baht
domestic gold Refer to the spot market at $1,917.00/oz. and based on the Thai baht, 35.07 baht / dollar
YLG said that after the gold price recovered in the previous period This morning, gold changed to be sold, slowly moving down to the range of $ 1,912-1,918, partly with the selling pressure to reduce’ the risk.
Before tonight at 9:05 pm, Fed Chairman Jerome Powell will give a speech at the Jackson Hole meeting, the market is waiting to see the trend of the Fed interest rate, together with Goldman Sachs warns that the real estate crisis China impact on Asia which could be a stimulus for the dollar and pressure on gold
Although gold prices were rising But the positive range of prices started to fall. If the price has limited upward movement, it is advisable to take a risk and open a short position. for short-term profits If the price cannot stand above the resistance zone of 1931-1947 dollars per ounce. Sell position to cut loss If the price passes the resistance of $1,947 per ounce.
Focus on profiting from swings by closing profit taking positions. If the price does not fall below the support of 1,902-1,884 dollars per ounce
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