It’s really not faint at all. For the price of gold in the past week, 7-11 October 2024, with the world gold price or Gold Spot rising to a new high, most recently “President of the Gold Traders Association” Mr.
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It’s really not faint at all. For the price of gold in the past week, 7-11 October 2024, with the world gold price or Gold Spot rising to a new high, most recently “President of the Gold Traders Association” Mr. Jitti Tangsitpakdee. Decide with the news agency I.N.N. said that this round of Gold Spot’s climb has a chance of seeing 2,700 coins per ounce. As for the price of Thai gold After last week it increased to a total of 1,300 baht per gold baht. Most recently, this week has been extremely volatile.
By the price of gold in the country as of October 12, 2024, gold bars are bought at 41,550 baht per baht, sold at 41,650 baht per baht, gold jewelry is bought at 40,795 baht per baht, 56 satang is sold at 42,150 baht per baht, “President of the Gold Traders Association” said to news agency I.N.N. said The price of gold in the country over the past week has been quite volatile. The value of the baht depreciated causing the price of gold to become more expensive. “At the beginning of last month there was fluctuation with the value of the baht. The value of our baht strengthens, depreciates, and is quite volatile. Last week, our baht weakened, causing gold to rise to the range of 1,200 – 1300 baht.” “Mr. Jitti” also said that with the fundamental factors of gold prices You have to go up anyway. But in the short term there will be pressure from large funds that come to speculate. Just like a dealer who doesn’t want to lose. “Now I think that we just look at it normally. Simple analysis: Stressful events involving Iran, Israel or the Middle East, the events are quite severe. But at the same time reducing interest rates Gold will go up. But now sometimes it responds to a lot of news. Speculators come in Retailers come in and speculate a lot, causing funds to take advantage. Let’s create a trend for the price to speculate. This is not normal, but looking at the fundamentals of gold, it must go up, but if we are in the short term. may be under pressure Because big funds will come in to speculate” and when asked the “President of the Gold Traders Association” about investment strategies from now on. How to plan? to create wealth The answer was interesting. “Well, if we keep it as an asset, it would be good if we could reduce it a little. I advise investors, if you have cold money, buy gold. I think it will beat inflation. I think the opportunity will increase because the Fed has announced that this year it may cut interest rates 2 times. It may not be a lot, but the interest rate reduction factor, the war factor, I think. The Middle East will likely drag on. It probably won’t end easily.” Meanwhile, MTS GOLD Mae Thongsuk has issued an interesting technical analysis of gold prices. that the technical overview Gold prices remain bright and strong. As for the price of Thai gold, there will be a short-term support level of 41,200 baht per gold baht. And there is a short-term resistance level at 41,800 baht per gold baht. Overall, Thai gold prices are still in a period of correction, similar to world gold prices. In addition, there is the opinion of “Assoc. Prof. Dr. Anusorn Thamjai” Dean of the Faculty of Economics. University of the Thai Chamber of Commerce If the war situation in the Middle East is still hot, it may cause the price of gold in the world market to test the level of 2,700 dollars per ounce soon. and in the next period The price of gold may reach the level of 45,000 baht per gold baht and continue a long upward trend. If the war expands further Investing in risky assets is more uncertain and volatile. The US economy has good employment numbers. Interest rate cuts may slow down At the same time, a strong dollar helps prevent gold’s uptrend. Latest employment figures In particular, the falling unemployment rate may result in the Federal Reserve not cutting interest rates by another 0.50% at its November meeting, but may cut it by only 0.25%, causing the dollar index to rise. The dollar strengthened slightly. Gold prices in the world market decreased slightly. In the long term, the dollar will continue to depreciate and be in a long downtrend. As for gold, it is on a long upward trend. As for the movement of the baht value which is related to the price of Thai gold, Kasikorn Bank recently estimated that the baht value next week It will be at the level of 32.90-33.70 baht per dollar. From the market closing on Friday 11 Oct. 2024 at 33.34 baht per dollar. Factors that need to be followed include the results of the Monetary Policy Committee (MPC) meeting on Oct. 16, the direction of foreign capital, and the Asian currency situation. and statements from Fed officials Including important US economic figures. Follow good content like this on Facebook: https://www.facebook.com/innnews.co.th
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