Bangkok, Gold opens the market, rising 600 baht. Domestic gold breaks a new high. Gold bars sell for 41,550 baht, gold jewelry 42,050 baht, rising in line with the world market and the baht depreciating.
Gold Traders Association Announcement of the gold price on Tuesday, April 16, 2024, the 1st time the market opened, increasing by 600 baht, with gold bars buying back 41,450.00 baht/baht of gold and selling out 41,550.00 baht/baht of gold, while gold jewelry was buying back 40,704.60 baht/baht of gold and selling out. 42,050.00 baht/baht of gold, setting a new all-time high for gold in the country.
Analysis from Hua Seng Heng stated that despite selling pressure causing the gold price to drop to the lowest level of the day at 2,324 US dollars, there was strong buying pressure for gold back in. This is due to the need for safe assets from tensions in the Middle East. Although the US dollar strengthens And US government bond yields will surge along with March retail sales. That came out better than the marke
t expected. This indicates strong consumer demand. This has caused concern that the Fed may delay cutting interest rates this year.
Source: Thai News Agency