Global Gold Hits 2.5-Month High, Thai Gold Surpasses 70,000 Baht

Matichon•Economy•5d ago

Reader Briefing

Thai gold prices rose above 70,000 baht following a 2.5-month high in global gold prices.

•The Gold Traders Association announced gold price adjustments on August 21.
•Thai gold bullion prices reached a selling price of 70,300 baht per baht-weight.
•Global gold prices (Gold Spot) reached approximately 4,533 US dollars per ounce.
•The US Treasury plans to increase the buyback limit of 10-30 year government bonds from 2 billion to at least 4 billion dollars.

•On August 21, the Gold Traders Association adjusted the price of 96.5% gold seven times, resulting in a net increase of 550 baht from the August 20 closing price.
•Thai gold bullion 96.5% was priced at a buying price of 70,100 baht and a selling price of 70,300 baht, while gold ornaments were sold at 71,100 baht.
•Hua Seng Heng assessed that the overall gold price trend remains upward despite short-term weakness caused by recovering US government bond yields.
•US government bond yields rose after the number of US first-time unemployment benefit claimants dropped by 6,000 to 206,000, which was lower than the analysts' expectation of 210,000.
•Brent and WTI crude oil prices continued to rise after the US increased economic pressure on Iran through financial sanctions against countries aiding Iran.
•The SPDR fund increased its gold holdings by 4.28 tons.
•The US is scheduled to release the manufacturing and service sector Purchasing Managers' Index (PMI) for August on August 21 at 20.45.
•MTS Gold reported that global gold prices reached a new high in over 2.5 months, peaking at 4,540 dollars.

Full article content is available on the original source.

Gold Traders Association(สมาคมค้าทองคำ)

The organization that announced gold prices on August 21.

Hua Seng Heng(ฮั่วเซ่งเฮง)

An entity that provided an assessment on the overall gold price trend.

Federal Reserve(ธนาคารกลางสหรัฐ)ℹ️

The central bank whose interest rate direction is a factor affecting gold prices.

US Department of the Treasury(กระทรวงการคลังสหรัฐ)ℹ️

The government body planning to increase the buyback limit of US government bonds.

A fund that purchased an additional 4.28 tons of gold.

MTS GOLD

The page of Mae Thong Sook Gold Shop that reported on the global gold price new high.

Mae Thong Sook Gold Shop(ห้างทองแม่ทองสุก)

The gold shop associated with the MTS GOLD page.

United States(สหรัฐ)ℹ️

The country whose bond yields, unemployment data, and economic sanctions on Iran influenced gold prices.

Iran(อิหร่าน)ℹ️

The country facing increased US economic pressure and financial sanctions.