2024-01-17 00:31:00
Gold price today (17 Jan. 2024) International gold market closed slightly down. from the strong dollar putting pressure on Bond yields surge Expectations of the Fed cutting interest rates in March.
Spot gold prices fell slightly. After rising for 3 consecutive days, the strengthening dollar put pressure on gold prices. The yen depreciated once morest the dollar. Investors sell yen It is expected that the BOJ will not end its ultra-accommodative monetary policy this month.
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Today’s gold price (January 16, 2024) closes the market “up 150 baht”. Gold bars are priced high once more.
However, gold prices still have positive factors from buying gold from increased tensions in the Middle East. After more than 100 days of Israeli-Hamas war
Meanwhile, the Houthis responded by threatening to attack more US shipping. and will continue to attack unrelentingly This increases the risk that war will escalate in the Middle East. Including the expectation that the Fed may cut interest rates in March.
Gold price analysis
Technical signals of gold prices are likely to decline in the short term. However, it is expected that The gold price is still above the support level of 2,040 dollars. Find an opportunity to buy gold around the said support area.
As for domestic gold, spot gold prices tend to shrink slightly, while the baht depreciates above 35 baht. It is expected that in the short term the price of gold bars will increase. Recommend buying gold around the price of 33,700 baht.
Meanwhile, New York gold contracts closed lower on Tuesday (Jan. 16) as the strengthening of the dollar and the rise in US bond yields affected trading in the market. In addition, gold contracts were also cheaper. Pressure from the concern that The Federal Reserve (Fed) may hold interest rates high for a long time.
The COMEX (Commodity Exchange) gold contract will be delivered in February. fell $21.40, or 1.04%, to close at $2,030.20/ounce.
Source: Hua Seng Heng
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