Daily golden message
Global gold prices closed negative at $2,024 on Friday (Feb 9) on strength in the dollar and US bond yields. This is a factor that pressures the market. The US dollar is likely to continue to strengthen. If U.S. economic numbers are bright and reports from central bank officials convince investors, the central bank may cut interest rates lower than market estimates. Market investors will keep an eye on the Consumer Price Index (CPI) this week for factors to follow, which will reflect US inflation. It would be a negative factor for gold prices if not much lower, adding support to the Fed choosing to keep interest rates high.
Global gold prices continue to move in a sideways range of $2015-$2045. Gold will continue to rise if it can hold above $2045. If the brakes are not crossed, gold will continue to move downwards. When the candlestick chart moves below the moving average. Reflects the position of the sell side which still has an advantage in the market. As for the Thai gold price, it is still bullish and short buying still has an advantage in the market. Most recently, it moved further to 34,400 baht (up almost 3.3% or almost 1,100 baht since the beginning of the year), which was the highest point in history. The baht still continues to depreciate, touching close to 36 baht to the dollar
Yesterday's gold price
High 2037usd/oz Low 2020usd/oz
Gold investment strategy
support line :2015/2000usd/oz
support line :34,300/34,200 baht
Note: Thai gold prices are approximate prices and may change according to currency direction.
Finance SPDR (World's Largest Bullion Mutual Fund)
841.92 tonnes (unchanged)
The above analysis is only for customers of the company. The company has no liability. The above analysis continues Investing is risky. Use your own discretion when investing. This analysis was prepared Ausiris Intelligence Deptt. For more information, contact 0-2613-0820 or via the website. www.ausiris.co.th
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