Bangkok: The price of gold in the country today hit a new record high, following the situation of gold prices in the world market.
According to Thai News Agency, the Gold Traders Association reported that there were 12 price changes today, and at 4:00 p.m. the price hit a new all-time high. Gold bars were bought at 47,950 baht per baht of gold and sold at 48,050 baht per baht of gold. Gold ornaments were bought at 47,086.96 baht per baht of gold and sold at 48,850 baht per baht of gold.
Hua Seng Heng Gold Futures Co., Ltd. stated that the price of gold has continuously increased to an all-time high following the price of foreign markets, moving above 3,000 dollars because investors are still concerned about the impact on the economy from the US tariffs. Trading partners are preparing to retaliate by imposing “high import taxes” on US products, and China has signaled that it is ready to take additional measures, which may make investors more concerned about the trade war that may escalate.
‘Gold prices have broken through the psychological resistance of $3,000 and above, leading to a tendency for prices to continue to rise. Technical signals from MACD and Modified Stochastic indicate an upward trend and no sell signals have been generated,’ said Hua Seng Heng Gold Futures.
