Thai Gold Price Surges to 70,000 Baht

MGR Online•Economy•5d ago

Reader Briefing

Thai gold prices surged by 550 baht per baht, pushing the price of gold bars above 70,000 baht.

•Gold bar prices rose to 70,100 baht for buying and 70,300 baht for selling as of 09.04.
•The US Treasury plans to double the maximum buyback limit for 10-30 year bonds from 2 billion to 4 billion dollars.
•President Trump increased economic warfare against Iran through financial sanctions on countries providing aid to Iran.
•Hua Seng Heng Gold Futures Ltd predicts global gold prices may continue to rise and test resistance levels at 4,540 and 4,575 dollars.

•The Gold Traders Association announced gold bar prices at 09.04 with a buying price of 70,100 baht and a selling price of 70,300 baht.
•Gold jewelry prices were announced with a buying price of 68,705.12 baht and a selling price of 71,100 baht.
•The US Treasury plan to increase the buyback limit of 10-30 year bonds to 4 billion dollars may push bond yields down or sideways, acting as a positive factor for gold.
•US first-time unemployment claims decreased by 6,000 people to 206,000, which was lower than the 210,000 expected by analysts.
•President Trump announced financial sanctions against countries assisting Iran, escalating economic warfare against Iran.
•The United Arab Emirates announced the suspension of all trade and financial transactions with Iran, increasing pressure on the Iranian economy.
•Brent and WTI crude oil prices continue to rise due to concerns over oil supply risks, inflation, and Fed interest rates.

Full article content is available on the original source.

Gold Traders Association(สมาคมค้าทองคำ)

The organization that announced gold prices at 09.04.

Hua Seng Heng Gold Futures Ltd(บริษัท ฮั่วเซ่งเฮง โกลด์ฟิวเจอร์ส จำกัด)

The company that provided the analysis on global gold price trends and resistance levels.

US Treasury(กระทรวงการคลังสหรัฐฯ)ℹ️

The US government body planning to double the buyback limit of 10-30 year bonds.

Trump(ทรัมป์)ℹ️

The President who escalated economic warfare against Iran through financial sanctions.

Iran(อิหร่าน)ℹ️

The country facing economic warfare and financial sanctions from the US.

United Arab Emirates(สหรัฐอาหรับเอมิเรตส์)ℹ️

The country that suspended all trade and financial transactions with Iran.

USA(สหรัฐฯ)ℹ️

The country that released first-time unemployment claims data.