Gold trade association Gold price report today, Mar. 3, 2021, the market opened up 100 baht from yesterday’s closing price (2 Mar.).
Gold price today, March 3, gold bullion 96.5% in the country has a purchase price of 24,800 baht per baht, sold at 24,900 baht per baht, while the 96.5% gold jewelry price is purchased at 24,346.96 baht per baht and sold out at Baht 25,400 per baht
The latest world gold price, or gold spot, is $ 1,733.50 an ounce.
Spot gold prices recovered in the evening of yesterday. From the buying force of speculation After falling prices hit their lowest in the previous 10 months, gold also gained a boost from the dollar’s depreciation. And US bonds dropped. Domestic gold opened up the market. After yesterday’s heavy fall
The US 10-year bond yield fell to 1.40% after reaching a one-year high. Also received a boost From the first day of gold re-entry by SPDR Gold Trust, the world’s largest gold fund, EFT, 2.62 tonnes after seven consecutive days of gold sales.
Today’s key US economic report Follow the February ADP private employment figures announcement. The forecast will increase 203,000 jobs from January to a 174,000 increase in ISM’s February service PMI index. The numbers are expected to stabilize at the level of 58.7.
The late night followed the release of the economic report of the US Federal Reserve (Fed) in the 12 regions over the past 1-2 months.
Announcing the price of gold in the country, the market increased by 100 baht after yesterday during the day. Price drop Touching the lowest level in more than a year, the baht this morning slightly appreciated at 30.31 baht.
Hua Seng Heng analyzes the trend of gold spot prices, expected to move within the range of $ 1,720-1,760. When the price of gold approaches the key resistance area of $ 1,760 due to the technical gold price. Still moving in a downward direction There will be a significant resistance area around $ 1,760.
While the $ 1,720 support will be the first support. And if the support is broken, there will be a support line next to the $ 1,700 area.
The YLG Bullion International Ltd stated that the price of gold yesterday closed up $ 13.40 an ounce. The gold price was driven by Buy the dip after the Asian market fell sharply to an eight-and-a-half month low of $ 1,707.26 an ounce. In addition, there was a technical reversal signal, thus stimulating additional technical buying.
In addition, the price of gold during the trading of the US market. Also received additional support From worries about the bubble In the global financial markets After yesterday, Mr. Gao Shuqing, chairman of the Banking Regulatory Commission. And China Assurance (CBIRC) has expressed concern that Financial markets in the US and Europe may face a broken bubble. Because of the surging market Power is in the opposite direction With the real economy And it is likely that The market will face a correction soon.
Such situation Encourage selling pressure on risky assets Until pressure on the US stock market Fall off the market in negative territory. Along with stimulating the purchase of secure assets such as US government bonds.
That brought the 10-year US Treasury yield down to 1.3982%, in addition to supporting gold. As an asset That is not a return in the form of interest Pressure to weaken the dollar As a factor supporting the recovery of the gold price as well
The SPDR held an additional 2.62 tonnes of gold, which is an additional gold hold. For the first time in a month
The foregoing factors Help support the price of gold to recover. It touches the highest level around $ 1,739 an ounce.
For today, follow the ADP February Private Employment Disclosures, Service PMI Index, and Beige Book.
Advice Focus on speculation in the framework of the swing. It opened a sell position in the zone, $ 1,759 an ounce. (Cut loss if passable price) gradually buy back To profit around $ 1,718-1,703 an ounce If the price of gold can stand above the support level
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