Gold prices surge 1,500 Baht on August 20

Matichon•Economy•6d ago

Reader Briefing

Thai gold prices surged by 1,500 Baht on August 20 following a decline in the US Dollar Index and US Treasury yields.

•The Gold Traders Association announced domestic gold prices on August 20 with an initial jump of 1,550 Baht.
•Gold prices fluctuated four times before settling at a 1,500 Baht increase compared to the previous close.
•Hua Seng Heng attributed the global gold price increase to a decline in the US Dollar Index (DXY) and US government bond yields.
•The US Treasury announced an increase in the size of its Debt Buyback to at least 4 billion dollars.

•On August 20, the Gold Traders Association opened the market at 09:03 with a price surge of 1,550 Baht.
•At 10:11, gold prices decreased by 50 Baht from the previous change, resulting in a net increase of 1,500 Baht.
•Gold bars 96.5% were bought at 69,600 Baht and sold at 69,800 Baht, while gold jewelry 96.5% was bought at 68,204.84 Baht and sold at 70,600 Baht.
•Hua Seng Heng stated global gold prices rose as the US Dollar Index (DXY) dropped from 99.66 to 98.76 points.
•The US Treasury increased the Debt Buyback size from 2 billion dollars to at least 4 billion dollars, lowering US bond yields.
•The SPDR fund purchased an additional 9.41 tons of gold.
•Potential military attacks by Iran on US targets in Europe if President Donald Trump starts a new war could increase inflation and interest rates, acting as a negative factor for gold prices.
•The US is scheduled to release the Federal Reserve Bank of Philadelphia manufacturing index and weekly jobless claims on August 20 at 19:30.

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Gold Traders Association(สมาคมค้าทองคำ)

The organization that announced domestic gold prices on August 20.

Hua Seng Heng(ฮั่วเซ่งเฮง)

An entity providing analysis on global gold price movements and market trends.

US Treasury(กระทรวงการคลังสหรัฐ)ℹ️

The US government body that announced an increase in the size of the Debt Buyback.

A fund that purchased an additional 9.41 tons of gold.

Federal Reserve Bank of Philadelphia(ธนาคารกลางสหรัฐ (เฟด) สาขาฟิลาเดลเฟีย)ℹ️

The US central bank branch that releases the manufacturing index.

Iran(อิหร่าน)ℹ️

A country considering possible attacks on US military targets in Europe.

Europe(ยุโรป)ℹ️

The region where US military targets might be attacked by Iran.

Bulgaria(บัลแกเรีย)ℹ️

A country mentioned in relation to the potential expansion of conflict.

Cyprus(ไซปรัส)ℹ️

A country mentioned in relation to the potential expansion of conflict.

Donald Trump(โดนัลด์ ทรัมป์)ℹ️

The President mentioned in the context of potentially starting a new war.