Today's gold price (February 14, 2024) opens the market “up to 50 baht” from weak baht support. Foreign gold is still below $2,000.
The Association of Gold Traders reported on Thursday, February 15, 2024 that gold prices were “up by 50 Baht”, supported by a depreciating Baht in the domestic gold market, although global market conditions were still below $2,000.
- Gold bars are bought at 34,050.00 baht/baht gold and sold at 34,150.00 baht/baht gold.
- Gold Jewelry: Buy back gold at 33,442.96 baht/baht and sell gold at 34,650.00 baht/baht.
- 1 gold is priced at 9,038 baht including gratuity.
- 2 gold, price including gratuity is 17,575 baht.
- Half a salung of gold costs 4,769 baht including gratuity.
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The domestic gold spot market was quoted at $1,993.00/oz. and 36.19 baht/dollar based on the baht value
Spot gold prices are still higher under pressure from the dollar in three months after US inflation rose more than expected, prompting the US Federal Reserve (Fed) to keep interest rates higher than expected.
Spot gold continued to move below $2,000, a two-month low, on pressure from the dollar, which strengthened to a three-month high after the release of US CPI inflation figures. The market predicts that the central bank will cut interest rates from May. It's going to be June. And it will cut interest rate only 4 times this year.
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