Gold Price Rises as Markets Await Key Economic Data
Bangkok, October 26, 2023 – The priceโ of gold in Thailand closed today’s market up 100 baht from โyesterday’sโฃ levels, according to PPTVHD36.This increase comes ahead of a โBank of England (Boe) meetingโ scheduled for this evening at 19:30 hrs, and followingโ theโค release of โcrucial United โStates economic indicators.
Investors are closely monitoring developments โas the Federal โReserve’s Philadelphiaโ Branch released its September productionโข index alongside the latest weekly unemployment welfareโฃ figures from the United States. These data points are key to assessing the health of the world’s largest economy and influencing future monetary policy decisions, directly impacting gold’s safe-haven appeal. Technical analysis suggests gold is currently trading within โฃa โsideways pattern, fluctuating between support atโฃ $1,935 and resistance atโข $1,975. A break below theโ $1,925 support level couldโค signal a potential downtrend.