Gold Prices Surge Amid Chinese New Year Trading, Rebounding from Recent Lows
The Gold Trade Association announced on wednesday, 29 January 2025, that gold prices closed the Chinese New Year trading session up by 50 baht, marking a meaningful recovery after falling to $2,730 two days prior. This rebound highlights the resilience of the precious metal amidst fluctuating market conditions.
Key price Movements and Trends
Gold prices in Thailand have shown notable volatility recently. The spot market reference price stood at $2,763.50 per ounce, with the baht-dollar exchange rate at 33.73 baht per dollar. Last night, gold prices swung to $2,765, reflecting a recovery from the earlier dip.
The US stock market also played a role in this rebound, recovering from panic selling in technology stocks, including NVIDIA shares. The impact of the deepsek AI model has been closely monitored, with the US market demonstrating strength despite recent turbulence.
Technical Analysis and Future Projections
From a technical viewpoint, gold prices are currently testing short-term resistance at $2,760. Analysts expect the price to continue rising, with support levels at $2,740 and resistance at $2,785. For Gold Online Futures, resistance is projected at $2,800, while Gold Comex resistance is expected at $2,790.
In the Thai market, short-term support for gold prices is at 43,800 baht per baht, with resistance at 44,400 baht per baht.
Detailed Gold Price Breakdown
Here’s a summary of current gold prices in Thailand:
| Gold Type | Buy Back Price (baht) | sell Price (baht) |
|———————-|—————————|———————–|
| Gold Bodies | 44,000.00 | 44,100.00 |
| Gold | 43,206.00 | 44,600.00 |
| Gold 1 Salung | 11,525 (includes fee) | – |
| Gold 2 Salung | 22,550 (includes fee) | – |
| Half Salung Gold | 6,013 (includes premium) | – |
Market Outlook
The recent recovery in gold prices underscores its role as a safe-haven asset during periods of market uncertainty.With the US stock market stabilizing and technical indicators pointing to further gains, investors are closely watching the $2,785 resistance level.
For those tracking the Thai gold price, the short-term support and resistance levels provide critical insights into potential price movements. As the market continues to evolve, gold remains a key player in global financial dynamics.
Stay updated on the latest gold price trends and market analysis to make informed investment decisions.
Gold Prices Surge Amid Chinese New Year Trading, Rebounding from Recent Lows
In a recent declaration by the gold Trade association, gold prices saw a meaningful recovery during the Chinese New year trading session, closing up by 50 baht after a dip to $2,730. This rebound highlights the resilience of gold as a safe-haven asset amidst market fluctuations. We sat down with Dr. Arun Jindal, a leading expert in precious metals, to discuss the latest trends and what investors can expect moving forward.
Understanding the Recent Recovery in Gold Prices
Senior Editor: Dr. Jindal, can you elaborate on the factors that contributed to the recent rebound in gold prices?
Dr. Arun Jindal: Certainly. The recovery in gold prices is largely tied to its role as a safe-haven asset during periods of uncertainty. The recent stabilization of the US stock market, particularly after the panic selling in technology stocks like NVIDIA, played a significant role. Additionally, the impact of the deepsek AI model on market dynamics has been closely monitored, and the US market has shown resilience despite recent turbulence.
Key Price Movements in the thai Market
Senior Editor: How has the Thai gold market responded to these global trends?
Dr. Arun Jindal: The Thai gold market has mirrored these global movements, showing notable volatility. As a notable example, the spot market reference price stood at $2,763.50 per ounce, with the baht-dollar exchange rate at 33.73 baht per dollar. Last night, gold prices swung to $2,765, reflecting a recovery from the earlier dip. This demonstrates the interconnectedness of global and local markets.
Technical Analysis and Future Projections
Senior Editor: From a technical perspective, where do you see gold prices heading in the near future?
Dr. Arun Jindal: Currently, gold prices are testing short-term resistance at $2,760. Analysts expect the price to continue rising, with support levels at $2,740 and resistance at $2,785. for Gold Online Futures, resistance is projected at $2,800, while Gold Comex resistance is expected at $2,790. In the Thai market, short-term support is at 43,800 baht per baht, with resistance at 44,400 baht per baht.
Market Outlook and Investment Strategies
Senior Editor: What advice would you give to investors tracking the Thai gold price?
Dr. Arun Jindal: investors should closely monitor the short-term support and resistance levels, as they provide critical insights into potential price movements.With the US stock market stabilizing and technical indicators pointing to further gains, gold remains a key player in global financial dynamics. Staying updated on the latest gold price trends and market analysis is essential for making informed investment decisions.
Conclusion
Our conversation with Dr. Arun Jindal underscores the resilience of gold as a safe-haven asset and the importance of understanding both global and local market dynamics. As gold prices continue to evolve, investors should remain vigilant and informed to navigate the ever-changing financial landscape.
