Gold Price Today (Feb 6, 2024) The trading market closed “down 100 baht” on yesterday's price. The global market is unlikely to cut interest rates soon due to pressure from the central bank.
Gold Traders Association Gold price announcement on February 6, 2024, was revised 3 times including yesterday's trade “falls by 100 Baht”. The global gold market is under pressure due to the faint hope that the central bank will cut interest rates in the near future. .
- Gold nuggets Buy back gold at 34,100.00 baht/baht and sell gold at 34,200.00 baht/baht.
- Gold jewelry Buy back gold at 33,488.44 baht/baht and sell gold at 34,700.00 baht/baht.
- 1 Gold saloon Price inclusive of gratuity is 9,050 baht.
- 2 gold salung Price including gratuity is 17,600 baht.
- Half gold Price inclusive of gratuity is 4,775 baht.
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The domestic gold spot market was quoted at $2,025.50/oz. and 35.67 baht/dollar based on the baht value
Global gold market situation Y.L.G Purchasing power has started to be limited. Because of the bigger picture for gold, there will be pressure from the market that will begin to reduce the expectation that the central bank will cut interest rates in the near future. This is indicated by the latest CME FedWatch, which reflects only a 54% chance that the Fed will begin cutting interest rates in May. Another part of the reason the economy is recovering well comes from Rafael Bostic, the president. Atlanta Fed. The central bank predicts long-term unemployment. It has decreased significantly
area Mae Thong Suk Gold price continues to decline analysis. By moving below the general average line. A downward trend is putting pressure on the overall price of gold. Overall, gold prices remain under pressure from higher interest rates. This is due to high inflation. There is no need for the central bank to accelerate interest rate cuts yet. The central bank is expected to cut interest rates from May.
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