Global Gold Peaks, Pushing Thai Gold Over 70,000 Baht

Prachachat•Economy•5d ago

Reader Briefing

Global gold prices reached a 2.5-month high, pushing Thai gold prices above 70,000 Baht following US Treasury bond buyback announcements.

•Global gold prices hit a peak of 4,540 dollars, the highest in over 2.5 months.
•Thai gold prices rose above 70,000 Baht.
•The US Treasury Department announced an increase in US government bond buybacks.
•The SPDR Gold Trust bought 4.28 tons of gold on the previous day.

•US Treasury Secretary Scott Bessent announced plans to increase the buyback of US government bonds, which pressured US Bond Yields and weakened the US dollar.
•Global gold prices reached a peak of 4,540 dollars and showed a trend to increase by more than 3% this week, marking the third consecutive week of growth.
•The surge in global gold prices pushed Thai gold prices above 70,000 Baht, as reported by MTS GOLD.
•On August 20, global gold prices closed positive and remained above 4,500 dollars.
•Gold prices faced selling pressure in the New York market, testing 4,450 dollars after strong US economic data, including the Philly Fed manufacturing index and a decrease in jobless claims.
•The 10-year US Bond Yield rose to 4.70% from 4.63%, and the 30-year yield rose to 5.25% from 5.178%.
•SPDR Gold Trust currently holds 1,038.93 tons of gold, with 31.06 tons bought in August, though there has been a net sale of 33.08 tons since January 1.

Full article content is available on the original source.

MTS GOLD

A gold trading page associated with Mae Thong Sook Gold Shop that reports on gold price situations.

Mae Thong Sook Gold Shop(ห้างทองแม่ทองสุก)

The gold shop associated with the MTS GOLD page.

US Treasury Department(กระทรวงการคลังสหรัฐ)ℹ️

The US government body that implemented measures to increase the buyback of long-term government bonds.

SPDR Gold Trust(กองทุนทองคำ SPDR)

A gold fund that purchased 4.28 tons of gold on the day prior to the report.

Scott Bessent(สก็อตต์ เบสเซนต์)ℹ️

The US Treasury Secretary who signaled that bond buyback limits might expand based on market conditions.

New York(นิวยอร์ก)

The location of the trading market where gold faced selling pressure.