gold price today Open for trading, down 50 baht, foreign gold markets have a chance to drop 1,800 after the Fed slammed the market around the world.
Gold Traders Association In announcing the domestic gold price today (March 8, 2023) Hua Seng Heng analyzed the gold price after the Fed chairman crashed the market around the world Be careful of the volatility of the baht.
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Thai baht today The open market weakened, breaking through 35 baht from the Fed to raise interest rates.
- Gold bars buy back 30,050.00 baht / gold baht and sold out 30,150.00 baht / gold baht
- Gold ornaments buy back 29,516.52 baht/gold baht and sell 30,650.00 baht/gold baht
domestic gold Based on the spot market at $1,812.50/oz. and based on the Thai baht, 34.12 baht / dollar
world gold price Support $1,800 and $1,780 Resistance $1,822 and $1,831
price of gold The spot fell sharply after the chairman of the Fed confirmed that the economy was strong and that interest rates would be raised higher than originally expected.
The Fed is ready to accelerate interest rates if it is supported by important data. what other assets are declining
While short-term bond yields have risen significantly above 5%, along with the spread between short-term and long-term yields to have a wider inverted yield curve.
The SPDR Gold Trust Fund has net sales of 5.50 tonnes and currently holds a total of 906.62 tonnes of gold.
Economic numbers to follow
Tonight, keep an eye on February’s nonfarm payrolls figures and follow Fed Chairman Jerome Powell, who will make another policy statement and answer questions from House committee members. after midnight Follow the Fed’s economic summary report information for each of the 12 areas (Beige Book).
gold price trend
Spot gold ended the rebound by plunging below the 20- and 50-day EMAs that were broken last week. And back down to swing in the range of $1,805-1,820, which is a pair of 100-day 200-day EMAs that have been a foothold in the previous period.
But since short-term market sentiment is extremely negative on a stronger dollar, the price has the opportunity to fall below the $ 1,800 level to test buying pressure.
Therefore, you are advised to wait for the short stroke when rebounding. it will have an advantage over buying in the market For today, the support level is estimated at $1,800 and $1,780 and looking at resistance at $1,822 and $1,831.
