Bangkok, Today’s Thai gold price made another All-Time High record , rising 5 times this morning to 250 baht from the weak baht. and world gold is at a high level after Market is confident the Fed will cut interest rates 3 times this year.
The Gold Traders Association reports that today’s gold price from 9:05 a.m. to 12:50 p.m. has increased from yesterday by 250 baht per gold baht, making a new high, resulting in the price of gold bars being bought at 37,850 baht per gold baht and sold out at 37,850 baht per gold bar. 37,950 baht for the price of gold jewelry Buying in gold baht at 36,172.32 baht per gold baht, selling out gold baht at 38,450.00 baht per gold baht, calculated from the Asian gold price of 2,200 US dollars/ounce, baht at 36.44 baht/dollar.
Analysis of Hua Seng Heng Gold Futures Co., Ltd. indicates that the price of gold on the world market has continued to increase for the 3rd day, supported by factors from The US Federal Reserve or Fed has signaled interest rate cuts three times this year.
The market is still absorbing such factors and waiting for data on the US Personal Consumption Expenditures (PCE) price index on Friday. To find clear signals about the inflation trend and the direction of the Fed’s interest rates, while the market still expects the Fed to start cutting interest rates at the June meeting, the SPDR fund holds the same amount of gold as before.
Analysts expect the Headline PCE index, which includes the food and energy categories, to increase 2.4% year-on-year in February. After increasing 2.4% as well in January. And the CADA Core PCE Index, which does not include food and energy categories, will increase 2.8% in February year-on-year. After increasing 2.8% in January
Source: Thai News Agency
