Strategy |. A weaker baht supports gold
Resistance | $2,530 or 40,700 baht
Support |. $2,475 or 40,200 baht
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Message:
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Gold Price Status:
– Investors predict that the Federal Reserve (Fed) will cut interest rates in the three remaining meetings this year by 0.25% in September, 0.50% in November and 0.25% in December at the central bank's annual meeting on Friday, August 23 in Jackson Hole, Wyoming.
The commander of the Iranian army, Major General Mohammad Bagheri, said: Iran will never forget the assassination of Hamas political leader Ismail Haniyeh. While living in Tehran
Major General Bagheri said, “Revenge for such crimes is certain.
– The Egyptian Foreign Ministry issued a statement condemning Israeli Defense Minister Itamar Ben-Quvir. It supports the construction of a synagogue within the Al-Aqsa Mosque compound in East Jerusalem.
– The NESDB reported second-quarter GDP growth of 2.3 percent, estimating the economy to expand 2.3-2.8 percent for the full year, if true. This year will be the 12th year since 2000 that the Thai economy has expanded by less than 3 percent, underscoring the persistent and serious problem of low economic growth.
Gold Analysis:
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Consider the economic numbers and consumer confidence
strategy :
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Suggestion: Thai gold has been pressured by the baht in the past, resulting in higher spot prices, but Thai gold prices have fallen in the short term. The BOD signal has formed a positive divergence, which gives the possibility of BOD weakening in the short term.
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