Today's gold price (February 17, 2024) was announced in one round, opening the market, with “50 Baht” jewelry priced at 34,800 Baht.
Gold Dealers Association Gold Price Notification 17th February 2024 Saturday “Increase by 50 Baht” Gold price in the country once notification. Spot gold also increased.
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- Gold bars are bought at 34,200.00 baht/baht gold and sold at 34,300.00 baht/baht gold.
- Gold Jewellery: Buy back gold at 33,579.40 baht/baht and sell gold at 34,800.00 baht/baht.
- 1 gold, price including gratuity is 9,075 baht.
- 2 gold, price including gratuity is 17,650 baht.
- Half a salung of gold costs 4,788 baht including gratuity.
The domestic gold spot market was quoted at $2,013.50/oz. and 36.02 baht/dollar based on the baht value
Spot gold prices rose due to support for buying gold assets as a hedge against inflation. After the U.S. released data on PPI inflation that was higher than expected. As for the price of gold in the country, a one-time increase of 50 baht was reported on Saturday, while a total decrease of 150 baht this week.
There have been a total of 13 rounds of gold price announcements this week (Feb 12-17), including 6 rounds of increases and 7 rounds of domestic gold price announcements on Saturday, Feb. 17, with an increase of 50 baht. The price has decreased by 150 baht compared to last week. As for the value of the Baht this week, it has weakened to 36 Baht since mid-week, which is a factor supporting domestic gold to keep gold levels in the global market steady.
As for the gold price trend, after the formation of the daily green candlestick, Hua Cheng Heng analyzed the spot. Close the market above $2,000 and the EMA100 is the line if it can stand above that level. There is a possibility of further recovery in the short-term around the $2,020 area. However, speculate in the short term. Because there is still a downward trend. Support is estimated at $1,990 and $1,984 respectively, while resistance is estimated at $2,010 and $2,020 respectively.
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