2023-05-16 03:20:00
pricegoldrising Follow the talks to raise the US debt ceiling today.
trend analysisgold price Hua Seng Heng Gold Futures Co., Ltd. reported that gold pricerising as the dollar weakens Due to problems with raising the US debt ceiling and the release of the New York Fed Manufacturing Index in May dropped to -31.8, below market expectations. While today President Joe Biden will meet with congressional leaders about raising the debt ceiling. This is the second time the Fed has negotiated. The Atlanta Fed President said he expects the Fed to not cut interest rates this year. The SPDR Gold Trust sold 3.47 tonnes of gold.
Economic numbers to follow
Tonight the United States will reveal April retail sales. The market is expected to increase 0.8% from a 1.0% drop in March and April industrial production. The market is expected to increase 0.0% from a gain of 0.4%.
Technical spot gold price trend is expected to move sideways, expected to move in the range of $ 2,000-2,030, following the increase in the US debt ceiling that may cause gold prices to fluctuate. Today there will be a meeting to negotiate to increase the debt ceiling between President Joe. Biden and the Leaders of Congress If there is more progress, there may be pressure to sell gold out. Gold has short-term support at $2,000 and $1,982, and resistance at $2,022 and $2,030.
world gold price
- $2,000 and $1,982 support levels
- Resistance 2022 and $2030
96.5% gold bar price
- Support 32,100 and 31,900 baht
- Resistance 32,300 and 32,400 baht
GOLD FUTURES (GF10M23)
- Support 32,250 and 32,180 baht
- Resistance 32,460 and 32,530 baht
investment advice
Recommend buying at $2,000 (GF 32,250 baht) with a sell stop loss of $1,990 (GF 32,180 baht).
GOLD ONLINE FUTURES (GOM23)
- Support 2015 and $1997
- Resistance 2037 and $2045
investment advice
Recommend buying at $2,015 with a stop loss at $2,005.
USD FUTURES (USDM23)
- Support 33.3 baht
- Resistance 34 baht
investment advice
The baht strengthened against the regional after informally knowing the results of the Thai elections The Thai baht is expected to appreciate further, with the USDM23 contract having resistance at 34 baht/dollar while having support at 33.3 baht/dollar.
SILVER ONLINE FUTURES (SVFM23)
- Support 24 / $ 23.7
- resistance $25
investment advice
The price of silver rose slightly. after a strong decline last week It is expected that the price of silver will not increase much. They can buy SVFM23 contracts around $ 24, which has support at $ 24 and the next support at $ 23.7 and resistance at $ 25.
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