Thai Gold Rises 4,000 Baht Amid US Iran Sanctions

MGR Online•Economy•2d ago

Reader Briefing

Thai gold prices have increased by approximately 4,000 baht since August 19 driven by global market trends and geopolitical risks.

•Thai gold prices rose from a low of 68,200 baht on August 19 to approximately 72,200 baht on August 25.
•Global gold prices increased by 6.29% over four consecutive trading days ending August 24.
•Price surges are driven by new US sanctions on Iran, US fiscal concerns, and a weakening US dollar.

•New US sanctions on Iran have increased risks in the Middle East, prompting investors to buy gold as a safe-haven asset.
•Global gold prices are further supported by concerns over US fiscal status, long-term bond buybacks, a weakening US dollar, and inflows into gold ETFs.
•Global gold prices on the COMEX market rose by approximately 274.80 dollars per ounce, or 6.29%, over four trading days ending August 24.
•Gold prices experienced a consolidation phase with mixed movements between August 13 and August 18.
•Thai gold (96.5% purity) rose from 68,200 baht on August 19 to 71,850 baht by the end of August 24, and reached approximately 72,200 baht on August 25.
•The Thai baht exchange rate between 32.65 and 32.70 baht per dollar has partially moderated the intensity of the price increase.
•Thai gold prices may test levels of 72,500–73,000 baht if spot gold prices stably pass the 4,680–4,700 dollar resistance level.

Full article content is available on the original source.

United States(สหรัฐฯ)ℹ️

The country implementing sanctions on Iran and facing concerns regarding its fiscal status and debt.

Iran(อิหร่าน)ℹ️

The country subject to new sanctions by the United States.

Middle East(ตะวันออกกลาง)ℹ️

The region where risks have increased due to US sanctions on Iran.

COMEX

The market where gold prices closed positive for four consecutive trading days until August 24.

Num Kala(หนุ่มกะลา)

A person mentioned in the article headline in relation to the gold price increase.