Gold Prices Remain Steady: Domestic Jewelry at 41,300 Baht, Foreign Gold Expected to Rise. Expert Analysis Inside!

Domestic gold prices opened steady this morning. Gold jewelry sold at 41,300 baht, and foreign gold is likely to rise in the short term.

Gold Traders Association Gold price announced on the morning of May 14, 2024, the first time, unchanged. As a result, 96.5% gold bars were sold at 40,800.00 baht / gold baht and bought at 40,700.00 baht / gold baht, and 96.5% gold jewelry was sold at 41,300.00 baht / gold baht and bought at 39,961.76 baht / golden baht.

Meanwhile, the price of foreign gold on the COMEX market decreased by $32.00 or 1.35% to close at $2,343.00/ounce.

Hua Seng Heng Gold Futures Company Limited announced that gold prices are falling. From selling pressure to profit Even though the dollar weakened and US bond yields fell Investors are waiting for the CPI and PPI inflation numbers to be released this week and the announcement of the Fed chairman at the annual meeting of the Foreign Bankers Association in Amsterdam. The Netherlands today, while the SPDR fund holds the same amount of gold as before.

Economic numbers to follow
Tonight the US will release the Producer Price Index (PPI) for April The market expects it to increase 0.3% from a monthly increase of 0.2%. In addition, the announcement from Chair Fèidh continued.

Gold price analysis
The price of gold has fallen. But still standing above the SMA20 line while technical indicators from MACD > Signal Line and MACD > 0 and indicators from Modified Stochastic, the %K line crossed the %D line on the time frame of 60-120 minutes of the price of gold. Starting to see a recovery Gold is expected to recover in the short term.

World gold price
Support levels 2,330 and 2,325 dollars
Resistance 2,350 and 2,360 dollars

The price of gold is expected to rise. Therefore, it is recommended to buy it in the area of ​​2,330-2,332 dollars with a stop-loss point of 2,320 dollars and sell it to take profit in the area of ​​2,350 dollars.

Price of 96.5% gold bars.
40,700 and 40,650 baht level support
Rates against 40,900 and 41,000 baht.

The price of gold bars could fall in the morning. According to the world the price of gold has decreased. While the baht is fluctuating a bit, pending new factors, it is likely that the baht will still decrease. From the Fed, there is a chance that the interest rate cut will be postponed. For short term speculation, buy around 40,650 baht and sell for profit around 41,000 baht But for long term investment, wait & see.