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Gold Trading Association Today’s gold price report December 12, 2020 increased 100 baht from yesterday’s closing price (December 11)
Gold price today, December 12, the last 96.5% gold bullion in the country has a purchase price of 26,150 baht per baht, sold at a price of 26,250 baht per baht, while the price of jewelry 96.5% gold is bought at 25,681.04 baht per baht and sold. Issued at 26,750 baht per baht
The latest price of gold, or gold, is $ 1,840.50 an ounce.
The spot price of gold increased due to the acquisition of safe assets. Amid uncertainty about the new round of stimulus in the United States. Concerns that Britain will withdraw from the EU without a deal. And signs of US commodity price inflation Thai gold rose 100 baht on Saturday
Next week (December 14-18) monitor progress on the new round of US economic stimulus measures, as well as the global COVID-19 epidemic, which continues to rise. Continue Recently, the number of infected people worldwide surpassed 70 million, with almost 16 million deaths, and the US has the number one infected and fatal in the world. Stay tuned for news on the COVID-19 vaccine announcement and the UK’s withdrawal talks from the European Union. Many are beginning to worry that Britain will leave the European Union without a deal.
As for the main US economic problems, follow the meeting of the United States Federal Reserve (Fed), the November Retail Sales Index. Purchasing Managers Index (PMI) Manufacturing and Services Sector, Dec. Number of applicants for weekly unemployment benefits Building permit and number of homes started in November. Philadelphia Fed Manufacturing Index, Dec. Etc. Also, follow the meeting of the European Central Bank (Easy B) and the Central Bank of Japan (BOJ).
The national gold price on Saturday December 12th has increased by 100 baht. Throughout this week, the national gold has decreased by 50 baht compared to the previous week. While the baht this week appreciated around 29.98 – 30.26 baht, on Wednesday the baht appreciated at 30 baht in a short time around 29.98 baht.
Hua Seng Heng’s technical analysis of the gold price trend will have a new round of speculative support at $ 1,810-1,820 and a cut-off point of $ 1,800, while intraday resistance is at the 1,845-1,850 area. Dollar and $ 1,870 respectively, that if the price of gold can pass the resistance area of $ 1,870 and more. The technical animation then resumes in the direction of recovery.
YLG previously stated that Long-term gold price trends Still an uptrend Although short It will continue to fluctuate with the expectation that this year there is still a chance that the price will hit $ 1,900 an ounce, however, although the price of gold now. It will drop from this year’s high of $ 2,075 an ounce. Even if you look at the opening price of $ 1,517 an ounce, the price is almost 20% higher.
Factors Still Considering Long-term 1 to 2-year gold prices remain bullish. It comes from the main factor There will be a massive inflow of gold due to the huge policy of quantitative easing (QE). Despite having launched a vaccine But before everything returns to normal, a period of 1 to 2 years is still needed.
Therefore, each country must implement monetary and fiscal policies to support the economy. That these inject money Every time money flows into the gold market. As in 2011, the year of QE, gold prices peaked at $ 1,920 an ounce. The year it was downgraded was 2013, the year QE was withdrawn, causing the price of gold to drop to a low of $ 1,045 an ounce. Because if the US starts raising interest rates, policies start to stop doing QE and start taking money out of the system. The price of gold will go down.
However, if it is seen in a bad case If in the future the price of gold is reduced. It will be reduced by at least $ 1,000 an ounce. The reason why the price of gold will not fall any more For the gold mine There will be costs in front of the mine. It is approximately at that level
However, the injection of money from each country will depend on the results of the private sector Inflation and unemployment figures Because if it goes wrong The government had to inject money into the system. To allow people to spend that will cause circulation AND as an investment occurs, this money will flow to various assets, including gold.
partThe signal to prevent QE from withdrawing money from the system or raising interest rates is to watch the employment and inflation figures if the figures continue to improve. Investors investing in gold should watch out for these signals. TBecause it is a sign that the economy will recover and investors will have more investment options and money will begin to exit the gold market.
Yet despite this year’s COVID-19, it sparked a global crisis. But it is also a year of opportunity because this year investors can benefit by investing in various assets. Enormously Because if it is an upward or downward trend of the asset price We could benefit from the price difference.
Additionally, investors can choose to invest in gold on the TFEX market through Gold Online Futures, which are gold futures that are traded in US dollars. Make Investors There should be no risk concerns. From the fluctuation of the baht
However, there is an investment risk. Investors should study to understand before investing. For investors interested in investing in gold futures contracts (Gold Online Futures and Gold Futures) as an investment option.
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