Fear of war in Israel. Resulting in gold and crude oil futures prices soaring.
The Gold Traders Association reports that the WMP gold price today at 9:26 a.m., the first gold price increased by 400 baht, gold bars 32,450 baht per baht, gold jewelry 32,950 baht per baht.
• The price of gold bars is bought at 32,350.00 baht per baht, sold at 32,450.00 baht per baht.
• Price of gold jewelry: Buying at 31,760.20 baht per baht, selling at 32,950.00 baht per baht.
Reporters reported that Due to the severe situation in Israel, gold futures prices increased by 17 US dollars/ounce. from the closing price on Friday Gold contracts on the COMEX (Commodity Exchange) market will be delivered in December. increased by 13.40 dollars or 0.73% to close at 1,845.20 dollars/ounce. WTI crude oil futures rose more than 4% this morning to reach 86.34 dollars/barrel and the Dow Jones Futures Index fell more than 200 points in the morning. this Investors are worried that geopolitical risks will become more severe. and affect the investment trading atmosphere which is already facing pressure from inflation and high interest rates and may affect the supply of oil in the world market
The baht opened this morning at 36.94 baht per dollar. “Appreciated slightly” from the previous week’s closing level. During last week, the baht weakened to its lowest level in nearly 11 months at 37.24 baht per dollar. Krung Thai Bank assessed Market players will wait to follow the war situation in Israel. This may cause the financial market to fluctuate in the short term. Players may want to hold safe haven assets such as the dollar, Japanese yen, and gold. Meanwhile, crude oil prices have a chance to increase further.
Hua Seng Heng Gold Futures Co., Ltd. stated that it expects the price of gold to increase sharply after reaching its lowest point in 7 months and the unrest in the Middle East. This makes it expected that there will be strong buying power for gold as a safe asset. Support levels are 1,830 and 1,820 dollars, resistance levels are 1,850 and 1,860 dollars. Economic numbers to follow this week include the United States releasing the Producer Price Index (PPI) for September and the Consumer Price Index. Consumption (CPI) September. Disclosure of minutes from the Federal Reserve Meeting (FOMC).
As for investment, the price of gold bars is 96.5% because foreign gold prices tend to increase. and the baht depreciated Recommend buying gold bars around 32,000 baht and 31,900 baht.
Source: Thai News Agency