Gold price today (May 1, 2024) market opens at 300 baht and is likely to continue to decline if the situation between Israel and Hamas changes. Which tends to reduce violence
Gold Merchants Association Announcement of gold prices in the country today, Wednesday, May 1, opening of the “Invest 300 Baht” market In general, the price of gold is still likely to decline, causing a decline in gold prices in the country.
- Gold Bullion buys back 40,250.00 baht/baht of gold and sells 40,350.00 baht/baht of gold.
- Gold Jewellery: Buy back 39,522.12 baht/baht of gold and sell 40,850.00 baht/baht of gold.
- 1 gold saloon, price including bonus 10,588 baht.
- 2 gold saloons, price including bonus 20,675 baht.
- Half a gold salung, price including bonus 5544 baht.
Domestic gold returned to the spot market at $2,289.00 per ounce. Based on a baht value of 37.22 baht/$
Overview of past movements
Spot gold prices continue to decline due to efforts to negotiate a ceasefire. Between Israel and Hamas was held in Egypt, which led to a decline in the VIX, an index that measures fear of the market. After events in the Middle East did not become more severe, the VIX index fell in line with the situation. Recently, oil prices have also fallen. The decline in assets such as gold and oil in the past reflects relief from worries, and the state of tension in the Middle East has decreased compared to the previous period.
Economic numbers to follow
Highlights of this week At the FOMC meeting, the economic outlook will be discussed and the interest rate announcement will also be announced tonight on the PMI and ADP employment report.
Gold price analysis
Gold prices still have a chance to adjust downwards. From the situation there is a tendency to reduce violence. The price of gold rose from the above factors. It tends to continue adjusting downward. If the situation tends to improve from now
“Reader. Infuriatingly humble coffee enthusiast. Future teen idol. Tv nerd. Explorer. Organizer. Twitter aficionado. Evil music fanatic.”