Strategy |
Resistance | $2,530 or 41,000 baht
Support |. $2,475 or 40,450 baht
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Message:
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Gold Price Status:
– The Dow Jones New York stock index ended in the negative on Thursday (August 22), as the market was pressured by a surge in US bond yields. And investors sell stocks to reduce risk. Federal Reserve Chairman Jerome Powell before delivering a speech at the Fed's annual meeting in Jackson Hole, Wyoming today.
– U.S. reports higher number of people filing for unemployment benefits: The number of first-time jobless claims rose by 4,000 last week to 232,000, the U.S. Labor Department said. And more than analysts' estimates of 230,000.
Gold Analysis:
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– The Purchasing Managers' Index (PMI) includes the US manufacturing and primary service sectors. It fell to a four-month low of 54.1 in August from 54.3 in July.
– The US Federal Reserve (Fed) released minutes of its July 30-31 monetary policy meeting, signaling that the central bank is more likely to cut interest rates during the September meeting.
– Investors are keeping an eye on the Federal Reserve (Fed) meeting from Thursday to Saturday (August 22-24), and the central bank's chairman will send a clear signal on the central bank's interest rate on Friday, August 23 at 9:00 a.m. US time.
Economic numbers
– Friday, August 23rd at 9:00 PM Central Bank Governor Mr. Jerome Powell will deliver the keynote address.
strategy :
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Suggestion: Thai gold has been pressured by the POT in the past, due to which the spot price has corrected to an all-time high, but the short-term trend of the POT is an important support level at 34, which is a strong support level. Therefore, in the short term, Thai gold has the potential to recover from the depreciating baht in the short term. Support level 2,475 = 40,450 baht, resistance level 2,530 = 4,1000.
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