The price of gold varies greatly. Due to the concerns of financial institutions about the crisis, they will have to keep an eye on the direction of the market’s opening price tomorrow. While gold trading companies expect gold prices to have a chance to shrink. more than raised Foreign Financial Institutions Crisis Government agencies take care of them
Concerns about the crisis of financial institutions that began to form with many leading to more investors moving to invest in assets that are believed to be safer such as gold. Throughout the past week, the world gold price has continued to move up to March 17, 2023, the US Comex gold price closed the market, rising sharply $ 50.50, or almost 3%, to $ 1,953.50, from reaching the highest level in 11 months and the biggest weekly increase in almost 3 years
As a result, the next morning (March 18, ’23), the price of gold in Thailand rose to 500 baht per baht, the highest in 1 year. To see the gold price throughout the week (March 13 -18, 2023) , found that the price of gold fluctuated 28 rounds, with a net increase of 1,100 baht per baht.
Jitti Tangsitpakdee President of the Gold Traders Association It was mentioned that the price of gold rose to 500 baht per baht yesterday (March 18, 2023) that the gold price situation around the world has fluctuated greatly. very difficult to predict Will the direction be up, stable or down because it has been all week. The price of gold has already increased quite high. Of concerns about the impact of bank failures in the United States. until it spread credit suisse bank despite injecting aid But investors are still quite concerned.
However, China’s announcement of a 0.25% reserve reduction and how it will affect the money market, the capital market, and the gold market must be monitored. In addition, concerns about the Fed raising interest rates. Causing some investors to turn to gold which is a safer asset As for the price, will it reach the price of 33,000 baht per baht? Have to look at the market opening price tomorrow to see what the direction will be.
sideHua Seng Heng Gold Futures Company Limited Gold price analysis The Swiss Bank lent 54 billion dollars. Keep Credit Suisse from collapsing As for the First Republic, 4 big banks helped each other to put in 30 billion dollars. bankruptcy protection causing the market to ease anxiety that the financial crisis will worsen
So investors adjust the portfolio. Reduce the proportion of holding down debt instruments. Ready to adjust that view The Fed will raise the policy rate. At the meeting on March 21-22, this is another 0.25% Overall, the financial market has entered a period of easing, but spot gold prices are still high as a safe haven, making Thai gold is stable above the 30,000 baht level.
However, investors be warned. Keep an eye on the price. because it is expected that a new route will be made The price of gold is more likely to fall than to rise. As problems in the financial sector are resolved, at least in the short term. So, it’s time for low cost people to take profits to end the rise.
