FRIDAY, March 29, 2024
nationthailand

Gold price rises but upside scope seen to be limited

Gold price rises but upside scope seen to be limited

The price of gold rose by Bt50 per baht weight on Thursday (March 26), the Gold Traders Association reported.

As of 9.29am, buying price of a gold bar was Bt24,250 per baht weight and selling price Bt24,550, while buying price of gold ornaments was Bt23,816.36 per baht weight and selling price Bt25,050.
Prices increased from the Wednesday’s close when buying price of a gold bar was Bt24,200 and selling price Bt24,500, while buying price of gold ornaments was Bt23,770.88 and selling price Bt25,000.
Gold contracts in COMEX futures dropped by US$27.40, closing at $1,633.40 per ounce as investors turned to buy risk assets after the US White House and Senate reached an agreement on measures to relieve Americans and business sectors affected by Covid-19.
An analyst at YLG Bullion and Futures advised investors to take profit if the gold price cannot rise over the line between US$1,628 and US$1,644 per ounce.
“We evaluated the support line at between 1,523 to 1,585 and resistance line at between 1,644 and 1,689,” the analyst said.

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