Today's gold price (2 February 2024) closed the trading market “up 50 baht” from yesterday. Overall, the global gold market is bullish.
Gold Traders Association The price of gold was announced on February 2, 2024, and the price changed 2 times, including closing the trading price “50 baht higher” than the previous day. As for the global gold market, there are signs of a bullish trend.
- Gold nuggets Buy back 34,200.00 baht/baht gold and sell 34,300.00 baht/baht gold.
- Gold jewelry Buy gold at 33,579.40 baht/baht and sell gold at 34,800.00 baht/baht.
- 1 Gold saloon Price inclusive of gratuity is 9,075 baht.
- 2 gold salung Price inclusive of gratuity is 17,650 baht.
- Half gold Price including gratuity is 4,788 baht.
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Domestic gold spot market no. See 2,054.00 dollars/oz and based on 35.28 baht/dollar baud rate.
Gold rose last night. In the evening, the price of gold changed to 2,030 dollars. Earlier Comex market or London market had strong buying at the start. This allowed the gold price to return to $2,040 and hold for a while until breaking the $2,050 level, which is considered a major move in gold prices.
Overall, however, gold prices have risen this time due to tensions between the US and the US. and Iran in the Red Sea causing gold prices to rise.
Meanwhile, yesterday's US economic numbers including jobless claims, final manufacturing PMI, ISM manufacturing PMI and ISM manufacturing prices came in higher than before, while construction spending m/m came out the same as before.
Today, following key economic statistics in the US including non-farm payrolls change, it is expected to decline from earlier, while the unemployment rate and revised UoM consumer sentiment are expected to increase from earlier, while factory orders are expected to be m/m. less than before.
The dollar index returned slightly weaker. Yesterday, the dollar index opened at 103.51 points and closed at 103.02 points, its lowest point at 103.06 points, and this morning it was at 103.01 points, thus strengthening the baht from 35.57 baht per dollar. Yesterday it was 35. baht to a dollar this morning. As for the SPDR Gold Fund, it bought 0.57 tonnes yesterday and currently holds 851.72 tonnes, with total purchases of 0.57 tonnes in February.
Gold Price Analysis
Technically, the gold price, after gathering strength around $2,020-2,030, managed to rebound above each moving average of $2,040, which is seen as the third test in a month. A significant increase is the main picture of global gold price direction currently in an upward trend with a target price of $2,100 in the medium term.
However, gold prices are expected to rise gradually. Because there is not much geopolitical tension affecting it. It can be seen that the price of gold touched a new high of around $2,140 in early December last year.
As for the Thai gold price, it came down to test the important short-term support level at 34,000 baht per gold baht. This confirms that Thai gold prices are still on the uptrend, even after a correction of 34,000 baht per gold baht. And can be adjusted even if it slowly improves from the short term reinforcement of Pat
Thai gold prices rose to 34,350 baht per baht. The maximum point is 34,750 baht per gold baht. Today, the price of gold is expected to be $2,040 with resistance at $2,075.