On the side of the gold market trend, the price of gold (-1.00) dollars decreased, (-0.04%) and closed the market at $2,034.
A place to stay
Maximum – $2,044
Minimum – $2,030
Gold bullion price
Maximum – 34,300 baht
Minimum – 34,200 baht
OVERVIEW OF PAST MOVEMENTS Gold prices are moving within a narrow range. And the market closed steady while the US dollar weakened which slightly supported gold prices. Investors follow the views of central bank officials. Fed Governor Adriana Kugler has suggested that the Fed will cut interest rates. Meanwhile, the Richmond Fed president said it will take time to start cutting interest rates if inflation continues to fall. The SPDR fund sold 5.47 tonnes of gold for the second day in a row.
Economic numbers to follow Follow the January Consumer Price Index (CPI) and China's January Producer Price Index (PPI). The U.S. will release its weekly jobless claims numbers tonight. The market is expected to decline by 3,000 cases to 221,000 cases.
Hua Cheng Heng has moved gold prices in a triangular pattern with a symmetrical triangle pattern. If the gold price breaks the resistance level of $2,045-2,050, it will push the gold price higher. But beware that if the price of gold falls below the support level of $2,030, the price of gold may fall.
World gold price
Support is at 2,030 and 2,020 dollars
Resistance is at $2,040 and $2,045
Open a short position if the price of gold falls below the $2,030 area. With a stop-loss point of $2,040
Price of 96.5% gold bullion
The support level is 34,250 and 34,150 baht
Resistance levels are at 34,350 and 34,400 baht.
Spot gold prices move sideways while the bond weakens and strengthens. As bullion prices are expected to remain stable in the short term, we recommend a wait & see strategy to capture the buying moment.
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