2023-06-26 12:53:43
The reporter reported that gold futures price Standing above $1,940 supported by dollar weakness. which will increase the attractiveness of gold By making gold contracts cheaper for holders of other currencies.
At 7:24 p.m. Thai time, the COMEX (Commodity Exchange) gold contract is delivered in August. plus $ 12.40 or 0.64% to $ 1,942.00 / ounce
In addition, the gold price was supported by speculative orders. following the price plummeted earlier
The price of gold plummeted more than 2% last week. It marked the biggest weekly decline since February. It was pressured by several central banks raising interest rates.
byBank of England (BoE) It voted to raise interest rates by 0.50% to 5.00%, the highest level since 2008, at last week’s meeting. This was more than the market had expected the BoE to raise interest rates by just 0.25%.
In addition, the Norwegian Central Bank Switzerland and Turkey have also raised interest rates.
Meanwhile, in addressing Congress last week Mr. Jerome Powell The president of the Federal Reserve (Fed) has reiterated that the Fed will continue to raise interest rates to curb inflation. And signaled that the Fed will raise interest rates twice more to 5.50-5.75% by the end of the year.
Mr Powell also said The Fed held interest rates steady at last week’s monetary policy meeting. It’s just a temporary suspension of interest rate operations. rather than indicating that the Fed has ended its rate-raising cycle.
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