Global gold prices surge near 4,700 USD in August

Prachachat•Economy•1d ago

Reader Briefing

Global gold prices approached 4,700 dollars on August 25, driven by US Treasury actions and strong technical momentum.

•Global gold prices rose over 15% in August, moving from an opening price of 4,075 dollars toward 4,700 dollars.
•The US Treasury is considering using nearly 1 trillion dollars from the Treasury General Account (TGA) to support bond buybacks.
•The SPDR gold fund purchased 2.28 tons recently, bringing total holdings to 1,049.49 tons.
•Kitco identifies technical targets for gold at 4,900 dollars and a psychological level of 5,000 dollars.

•Global gold prices increased by over 15% in August, rising from an opening price of 4,075 dollars to nearly 4,700 dollars.
•Gold prices were supported by the US Treasury increasing long-term government bond buybacks.
•The US Treasury is considering using approximately 950 billion dollars from the Treasury General Account (TGA) deposited with the Federal Reserve to support the bond market and lower long-term bond yields.
•The SPDR gold fund purchased 41.62 tons in August, though it has a net sale of 22.52 tons from January 1 to the present.
•The World Gold Council reported that gold ETF funds held 46.7 tons valued at 6.4 billion dollars last week, the highest weekly holding in 10 months.
•Kitco reports gold prices have broken through the 100-day and 200-day moving average resistance lines.
•Bank of America reported that 16% of fund managers in August viewed gold as undervalued, up from 6% in July.
•Bank of America states that investor buying must accelerate for gold to reach the 5,000 dollar level.

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MTS GOLD

A gold trade page associated with Mae Thong Suk Gold Shop providing market analysis.

Mae Thong Suk Gold Shop(ห้างทองแม่ทองสุก)

The entity associated with the MTS GOLD page.

US Treasury(คลังสหรัฐ)ℹ️

The US government body considering the use of the TGA to buy back bonds.

Federal Reserve(ธนาคารกลางสหรัฐ)ℹ️

The central bank where the US government's Treasury General Account is deposited.

Fed

The abbreviation for the Federal Reserve.

A gold fund that has been purchasing gold in August.

World Gold Council(สภาทองคำโลก)ℹ️

The organization that revealed gold ETF holding data.

Kitco

An entity providing technical analysis on gold price momentum and targets.

Bank of Americaℹ️

A financial institution that surveyed fund managers regarding the value of gold.

The abbreviation for Bank of America.

North America(อเมริกาเหนือ)ℹ️

A region where gold ETFs are registered.

Europe(ยุโรป)ℹ️

A region where gold ETFs are registered.