Daily gold news
Global gold prices closed steady at 1980usd/oz, while rising US bond yields also weighed on the market. Investors also slowed trading ahead of the Thanksgiving holiday and kept an eye on Minutes of the Federal Reserve’s Monetary Policy Committee (FOMC) meeting for Oct. 31-November 1 will be released today. To find signs indicating the Fed’s interest rate direction
We think that if the Fed gives less weight to the need to raise interest rates. Gold prices may have a chance to test the 2,000 USD/oz resistance level again.
Technical data on gold price trends
This morning’s gold price opened at 1981 USD/oz or approximately 33,000 baht. For the price of 96.5% gold bars, weight 1 baht, overall The gold price can still stand above the 50-day and 100-day moving averages.
at the level of 1972usd/oz in TF4H and is still moving in an uptrend. The strategy recommends short-buying with a target at the level of 1995-2005 USD/oz, while the domestic gold price may not recover much after the baht continues to strengthen.
Interesting statistics for the price of gold in the world market in November each year (10 years past)
1. The average price difference between the highest and lowest price of the month is $106.8.
2. Most gold prices closed negative in November compared to the closing prices in October each year.
70% in TF1M before it trended up in early December, considered a good moment before the end of 2023.
Yesterday’s gold price
High 1985 usd/oz Low 1965 usd/oz
Gold Investment Strategy
Gold Spot:
Support line :1976/1966 usd/oz
Resistance:1995/2005 usd/oz
96.5%:
Support line :32,900/32,800 baht
Resistance:33,050/33,150 baht
Note: Thai gold prices are approximate prices which may change according to the currency direction.
Daily direction of the baht value
The baht opened at 35.18 baht per dollar. Looking at the baht range today, 35.00-35.35 baht per dollar.
fund SPDR (World’s Largest Bullion Investment Fund)
Holding 883.43 tons (fixed)
Latest US policy interest rates
The latest US interest rate is still at the level of 5.25-5.50%. Recently, the market still expects that the Fed is likely to maintain interest rates at its December meeting on the 13th, with an expectation of 99%, while another 1% expects that the Fed Will increase interest rates in that month by another 0.25%, according to CME GROUP (positive factor for gold)
The above analysis is intended for the Company’s customers only. The company does not have any responsibility. Continuing the above analysis Investing is risky. Please use your own discretion when investing. This analysis was prepared by Ausiris Intelligence Dept. For more information, contact 0-2613 -0820 or via the website. www.ausiris.co.th
2023-11-21 02:30:19
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