Gold price increased today (October 23, 2024) from the previous day by 550 baht.

Gold Traders Association Gold price announcement on October 23, 2024, close of trade. The price of gold will not stop at a high. At the end of the market before it closed, the market rose 550 baht from the previous day due to various concerns. Especially the US presidential election.

• Gold bars buy 43,800.00 baht/gold baht back and sell 43,900.00 baht/gold baht.
• Gold jewelry: Buy back 43,008.92 baht / gold baht and sell out 44,400.00 baht / gold baht.
• 1 gold salung, the price including gratuity is 11,475 baht.
• 2 salung of gold, the price including gratuity is 22,450 baht.
• Half a salung of gold, the price including gratuity is 5,988 baht.

Domestic gold is quoted on the spot market at $2,751.00/oz. and based on a baht value of 33.72 baht/dollar

Overview of past trends
Gold prices rose due to various concerns affecting Especially the US presidential election. which will be held on November 5. As previous poll results showed how close representatives from both sides were, the issue came back to support world gold prices once again. At the same time, the value of the baht has returned to depreciation. As a result of the dollar index returning to strengthening after weakening. Since the second quarter of this year, it has recently crossed the important resistance level of 33.55 baht. There is a great possibility that the value of the baht will continue to support gold bars in the country.

Economic numbers to follow
The US did not release any important economic figures this evening. But this week the United States will release estimates for Flash Manufacturing PMI and Flash Services PMI for September.

Gold price analysis
Global gold prices continue to reach new highs. Even though technical indicators are starting to issue sell signals. But the upward trend in global gold prices remains strong. Therefore, it is estimated that the price of gold will continue the upward movement after a strong movement.