Thai Gold Prices Surge as US Bond Yields Drop

MGR Online•Economy•6d ago

Reader Briefing

Thai gold retail prices surged by 1,550 baht following a sharp decline in US bond yields.

•The Gold Traders Association announced the first gold price of the day at 09:03.
•Gold jewelry selling prices exceeded 70,000 baht per baht-weight.
•The US Treasury announced an increase in Debt Buyback operations to at least 4 billion dollars.
•The SPDR fund purchased 9.41 tons of gold.

•The Gold Traders Association announced gold bar buying prices at 69,650 baht and selling prices at 69,850 baht.
•The Gold Traders Association announced gold jewelry buying prices at 68,250 baht and selling prices at 70,650 baht.
•Gold prices rose because the US dollar index (DXY) dropped to 98.76 units and US 10-year and 30-year bond yields fell below 4.70% and 5.20% respectively.
•The US Treasury increased the scale of government bond buybacks (Debt Buyback) from 2 billion dollars to at least 4 billion dollars.
•The Debt Buyback caused US bond yields to drop rapidly, reducing the opportunity cost of holding gold.
•Crude oil prices for Brent and WTI may continue to rise as Iran considers attacking US military targets in Europe, specifically Bulgaria and Cyprus.
•Potential military action by President Trump could expand the war, potentially increasing inflation and Fed interest rates, which would be negative for gold.
•The SPDR fund purchased 9.41 tons of gold.

Full article content is available on the original source.

Gold Traders Association(สมาคมค้าทองคำ)

The organization that announced the retail prices of gold.

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

The company that provided the analysis on gold price movements.

US Treasury(กระทรวงการคลังสหรัฐฯ)ℹ️

The US government body that announced the increase in the Debt Buyback scale.

SPDR Fund(กองทุน SPDR)

The fund that purchased 9.41 tons of gold.

Iran(อิหร่าน)ℹ️

The country considering the possibility of attacking US military targets in Europe.

USA(สหรัฐฯ)ℹ️

The country whose bond yields and treasury actions influenced gold prices.

Europe(ยุโรป)ℹ️

The region where Iran is considering attacking US military targets.

Bulgaria(บัลแกเรีย)ℹ️

A country mentioned as a potential target of military action.

Cyprus(ไซปรัส)ℹ️

A country mentioned as a potential target of military action.

President Trump(ประธานาธิบดีทรัมป์)ℹ️

The US President who might start a new war.