Gold prices rise again to record highs

Bangkok, Gold prices made another new high this morning. Waiting to see that this year it may reach 38,000 baht/gold baht. The Gold Traders Association reported the price for the second time today. The price of gold in the country increased by a total of 100 baht from Saturday, with gold bars selling at 35,300 baht and gold jewelry selling at 35,800 baht, continuously setting a new record high. Mr. Jitti Tangsittipakdee The president of the Gold Traders Association revealed that the price of gold has increased during this period due to the weakening of the US dollar. On the morning of Saturday, March 2, the price of gold in the country increased in one go by 400 baht, and this morning (4 March) the domestic price increased two more times by 50 baht each, for a total of 100 baht, even though the baht is quite Appreciate, fluctuate According to the dollar value If the baht does not strengthen Domestic gold will go up even more. The baht was at 35.80 baht/dollar, while foreign gold was at 2,082 dollars/ounce. And if the US Federal Reserve (Fed) cuts interest rates again. Gold has a chance to go up again. Currently, it is thought that this year the resistance level of gold in the country may reach 38,000 baht. Miss Kanchana Chokpaisansin Research executive Kasikorn Research Center said that this morning the baht adjusted to a level of approximately 35.80-35.82 baht per dollar. Compared to the market closing level last Friday at 35.95 baht per dollar. Appreciated amid selling pressure of the dollar. and the downward adjustment of US bond yields which faced pressure from US economic data that is weaker than expected. Source: Thai News Agency