Thai gold rose another 50 baht today, pressure from the dollar strengthening : PPTVHD36

gold trade association Announcement of domestic gold prices (23 Sept. 65) after Spot gold received both positive and negative factors. The price of gold was pressured by the strong dollar. The Fed raised interest rates by 0.75% as expected.

The baht today opens the market to “appreciate” investors sell profits to the dollar.

Housing prices have risen due to rising interest rates, expensive materials, rising land prices.

As a result, the price of gold in the country

  • Gold bars buy back 29,450.00 baht/gold baht and sell out 29,550.00 baht/gold baht.
  • Gold jewelry, buy back 28,925.28 baht / gold baht and sell out 30,050.00 baht / gold baht.

domestic gold price Based on spot market at $1,671.00/oz. and the baht appreciated slightly at 37.33 baht/dollar.

The Fed will not consider a rate cut. Until confident inflation figures fall to the Fed’s target level of 2%.

However, investors buy gold. from concerns about the crisis in Ukraine After the Russian leader announced a mobilization to escalate the war with Ukraine. On the other hand, SPDR Gold Trust sold 2.03 tonnes of gold from yesterday.

The US will release the September service PMI index tonight. The market is expected to rise to 45.5 from 43.7 in August and the September manufacturing PMI. The market is expected to drop to 51.0 from 51.5 in August. In addition, following the Russo-Ukraine war situation.

The trend of gold prices is expected to increase slightly. The price of gold has a support of $1,660 and the next one, $1,650, while there are resistances of $1,680 and $1,690.

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The article is in Thai

Tags: Thai gold rose baht today pressure dollar strengthening PPTVHD36

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