Gold holds its ground: Steady prices shine in market replace

Gold costs remained regular right now based on the Gold Traders Association‘s opening market replace, with the value of gold ornaments set at 32,650 baht per baht-weight.
The price of gold bars within the nation was also unchanged, with the shopping for and promoting rates at 32,050 baht and 32,a hundred and fifty baht per baht-weight respectively. Meanwhile, 96.5% pure gold ornaments had been bought for 31,472.sixteen baht and offered for 32,650 baht per baht-weight.
First , or Gold Spot, stood at US$1,844.00 per ounce.
In summary, the gold costs for October 2, 2023 (Thai yr 2566) are as follows:
These prices had been introduced at 9.26 am, and were unchanged from the closing costs of yesterday, Khaosod reported.
In associated news, one week in the past gold costs have been impacted by recent statements from the Federal Reserve, indicating potential fee increases this 12 months and a likelihood of excessive charges throughout next year.
This information, released on Wednesday, elevated the US dollar and bond yields, placing stress on gold as buyers revised their future price expectations for the dear metal. Consequently, Thursday noticed a retreat in gold prices, with spot gold declining zero.1% to US$1,927.eighty four per ounce and US gold futures falling 1% to US$1,948.10.
The Federal Reserve additionally dismissed considerations a couple of potential US recession, which in flip lowered the demand for safe-haven property like gold. Despite worldwide fluctuations, domestic gold prices in Thailand soared to a record excessive of 33,550 baht on September 20, largely driven by a depreciation of the baht, which has weakened by 11% this 12 months.
Gold Traders Association information reveals the domestic gold value has risen from 29,000 baht initially of the year to a report 33,550 baht per baht weight on Wednesday, following the currency’s plunge to 36.28 baht to the greenback, Read more about this information HERE.
Follow more of The Thaiger’s latest tales on our new Facebook web page HERE..

Leave a Comment