The price of gold rose +15.90 dollars, accounting for +0.68%, closing the market at 2,331 dollars. Gold is expected to drop slightly.
Gold spot
- Max – $2,344
- Lowest – $2,306
- Maximum – 40,800 baht
- Lowest – 40,700 baht
Analysis of gold price trends from Hua Seng Heng Gold Futures Co., Ltd. reports that, overall, past movements, spot gold prices have recovered, supported by the weakening of the US dollar. After the release of first quarter GDP, the first estimate grew at 1.6%, which was lower than the market expected. and it was the lowest expansion in almost 2 years. The SPDR fund bought 1.15 tons of gold.
Economic numbers to follow
Tonight the United States will release its March Personal Consumption Expenditures (PCE) price index. The market is expected to increase 0.3% from a 0.3% month-on-month increase. or an increase of 2.6% from an increase of 2.8% year-on-year. and the April Consumer Confidence Index from the University of Michigan.
Gold price analysis
Although there has been a slight recovery But technical signals of the daily gold price still indicate a downward adjustment. It is expected that the gold price may drop slightly during the day, with support at 2,310 dollars and resistance at 2,340-2,344 dollars. It is expected that during the night the gold price may fluctuate.
World gold price
- Support levels 2,310 and 2,300 dollars
- Resistance 2,340 and 2,355 dollars
It is expected that gold prices will move within a limited range during the day. But tonight, gold prices are expected to fluctuate. Recommend trading according to the support and resistance lines. Or open a sell position in the area of 2,340-2,344 dollars with a stop-loss point of 2,355 dollars.
Price of 96.5% gold bars
- Support level 40,600 and 40,500 baht
- Resistance levels 40,950 and 41,200 baht.
Spot gold prices have recovered, plus the baht is still depreciating above 37 baht, which has supported the price of gold bars to increase. However, it is expected that the increase in the price of gold bars will be limited. Recommend Wait & see.
