While the group of oil exporting countries and allies or OPEC Plus Announced to cut oil production by more than 1 million barrels per day. poses new risks to the global economy. due to rising oil prices This adds to global inflationary pressures. As a result, the world gold price rises high.
As for the price of gold in Thailand, the market opened on April 5, 2023, it increased by as much as 400 baht, making the price of gold bars move to 32,450 baht per baht, making a new record high. From March 2022, the highest price was 32,100 baht per baht, while in March 2021, the lowest price of gold bars was 24,450 baht per baht.
“Jitti Tangsitpakdee” President of the Gold Traders Association stated that the price of Thai gold opened the market on April 5, 2023, with an increase of 400 baht, the highest in history. The price of gold in the world market is at $ 2,040 due to many factors, whether it is anxiety and uncertainty in the US financial system. Therefore, the Fed is likely to continue to raise interest rates. to bring inflation back to the 2% target
latest saudi arabia oil prices The world’s largest exporter of crude oil has cut production. causing oil prices to rise effect on global inflation. Will have to keep an eye on gold prices. Because there is quite a swing and high volatility at the moment
In addition, over the past 54 days, the price of gold in the country has increased to a total of 2,750 baht, considered the highest. As for the chance to move up or not? If people are not confident in taking profits at this time also saw that the price of gold still had a chance to rise again but must be careful enough
“We have to see what measures will be taken by financial institutions around the world next. after the bank in the United States And Switzerland is bankrupt, but should be resolved. I think I’ll have to wait and see the situation again. And if retail investors want to make a profit during this period Let’s sell some. and keep some because the price of gold may increase somewhat Let’s look at each stroke in the short term. Not in the long run.”
From the rising gold price situation, admitting that now people have begun to sell gold to gold shops during these 2 weeks after the gold price has continued to rise due to many factors. As a result, the global gold price fluctuates. which investors must keep an eye on in the short term Before taking profit at the resistance of 2,035 dollars per ounce
Gold prices have a chance to stabilize at a high level.
What is the direction of investment in gold? Nattawut Wongyaowarak, research director. Globlex Securities Co., Ltd. assesses the overall gold price in April, still has to keep an eye on the announcement of the labor sector and the US inflation index. The numbers are expected to weaken due to rising financial costs. An increase in the policy rate to 4.75-5.00% may pressure the overall US economy, while the SPDR (Standard & Poor’s Depositary Receipts), the world’s largest bullion fund, There is a continuous positive signal. both of which are supporting gold
Assess that the price of gold has a chance to remain at a high level. After the Fed signaled the last rate hike at the Federal Open Market Committee (FOMC) meeting in May, the market is more accommodative. It is expected that during the week, if the price of gold falls below the support of $ 1.950 per ounce. It is a time to buy and take profit at the resistance of 2,000-2,030 dollars per ounce.