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Thai Gold Steady, Global Gold Dips Amid Hormuz Tension, Then Recovers

Thai Gold Steady, Global Gold Dips Amid Hormuz Tension, Then Recovers

Matichon•Economy•12h ago

Reader Briefing

Thai gold prices remained stable while global gold experienced a sharp decline due to heightened tensions in the Hormuz Strait, before showing signs of recovery.

  • •Thai gold prices were unchanged on April 13th.
  • •Global gold spot prices initially plunged but later recovered from a key support level.
  • •Tensions surrounding the Strait of Hormuz and Iran-US relations contributed to market volatility.
  • •The SPDR gold fund holdings remained static.

Overview

  • •On April 13, Thailand's Gold Traders Association announced the first gold price update at 09:07 AM.
  • •Gold bar buying price was 72,000 THB per baht and selling price was 72,200 THB.
  • •Ornate gold buying price was 70,554.64 THB per baht and selling price was 73,000 THB.
  • •Global gold spot price was 4,721 USD per ounce.
  • •The Thai Baht traded at 32.3 THB per US dollar.
  • •US-Iran peace talks in Islamabad failed, increasing geopolitical risks.
  • •Donald Trump announced the closure of the Strait of Hormuz, leading to a warning from Iran.
  • •Saudi Arabia returned the East-West pipeline to service, partially easing oil supply concerns, and Israel attacked Lebanon, resulting in casualties countered by Hezbollah.

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Key Entities

Organization

Gold Traders Association(สมาคมค้าทองคำ)
The official body announcing gold prices in Thailand.
Hezbollah(ฮิซบอลเลาะห์)ℹ️
A militant group that responded to Israeli attacks in Lebanon.
SPDR fund(กองทุน SPDR)ℹ️
A fund whose gold holdings are tracked as an indicator of investor sentiment.

Person

Donald Trump(Donal Trump)ℹ️
Former US President whose actions impacted oil supply and global markets.

Place

Strait of Hormuz(ช่องแคบฮอร์มุซ)ℹ️
A critical maritime chokepoint whose potential closure by Iran has global economic implications.
Iran(อิหร่าน)ℹ️
A nation whose actions and pronouncements regarding the Strait of Hormuz and geopolitical conflicts are influencing global markets.
Saudi Arabia(ซาอุดีอาระเบีย)ℹ️
A country whose infrastructure repairs (East-West pipeline) helped stabilize oil supply.
Israel(อิสราเอล)ℹ️
A country whose military actions in Lebanon contributed to regional tensions.
Lebanon(เลบานอน)ℹ️
A country experiencing military actions and counter-responses between Israel and Hezbollah.