Association of Gold Traders announced the price of gold on Friday, August 16, 2024. The market closed, changed 5 times, including “100 Baht” from yesterday's price.
- Bullion buys gold at 40,750.00 baht/baht and sells gold at 40,850.00 baht/baht.
- Gold Jewelers bought gold at 40,022.40 baht/baht and sold gold at 41,350.00 baht/baht.
- 1 gold, price including gratuity is 10,713 baht.
- 2 gold, price inclusive of gratuity is 20,925 baht.
- 5,606 baht in gold, half a salung including gratuity.
Domestic gold spot market no. See 2,464.00 dollars/oz and based on 35.04 baht/dollar baud rate.
Hua Cheng HengIt indicates that the price of gold is moving within a narrow range. Investors await the release of US economic data tonight. Especially with the University of Michigan's August consumer confidence index (preliminary) including the Jackson Hole meeting next week. To find out the size of the central bank's interest rate cut at its September meeting. Gold also gained support from tensions in the Middle East. Ceasefire talks continue in Gaza Iran has previously said that only a cease-fire agreement in Gaza would prevent attacks on Israel. And if cease-fire talks fail, Iran will strike directly.
Tonight the U.S. will reveal July home building permits. and July housing starts are expected to decline to 1.43 million units and 1.34 million units, respectively.In addition, the U.S. will release its August consumer confidence index from the University of Michigan (which was initially expected to increase from 66.4 in July
Gold price is moving closer to the triple top pattern head as momentum begins to slow, but the modified stochastic indicator has yet to cross over. Or the sell signal may still move sideways between $2,430-2,478 and watch out for selling pressure as it nears the all-time high.
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