Gold falls sharply, the baht weakens in more than 6 months.

Bangkok, Thai gold market opened down 850 baht/gold baht in less than half a day, falling another 1,000 baht after the market eased concerns about conflict in the Middle East. Meanwhile, the baht weakened the most in more than 6 months. The Gold Traders Association reports that the price of Thai gold today, when the market opened for the first time, dropped 850 baht/baht of gold, and at 10:48 a.m. gold changed its price 6 times in total, decreasing compared to yesterday by 1,000 baht/baht of gold. Gold bars sold out. 40,400 baht per baht, gold jewelry sold at 40,900 baht per baht, with the latest Asian gold moving at 2,304 US dollars/ounce. The gold contract on the COMEX (Commodity Exchange) market will be delivered in June. fell $67.40, or 2.79%, to close at $2,346.40 dollars/ounce. As concerns about the tense situation in the Middle East have decreased. This has resulted in investors selling gold as a safe-haven asset. and turn to investing in risky assets such as stocks The baht touched its weakest lev el in nearly six and a half months at 37.09 before adjusting back to around 37.01-37.03 baht per dollar. This morning (9.45 a.m.), it was close to yesterday's market closing level of 37.00 baht per dollar. Kasikorn Research Center stated The baht continues to depreciate in line with the falling price of gold in the world market. But the overall picture is still a relatively narrow movement. This is because the market is still waiting to follow the situation in the Middle East. and new factors such as PMI data that will be gradually reported today. For the framework of the movement of the baht today Preliminary estimate is at 36.90-37.20 baht per dollar. The factor that must be followed will be the direction of foreign fund flow. The direction of gold prices in the world market Situation in the Middle East. Preliminary PMI index for April. of Japan, the Eurozone, England and the United States, including March new home sales figures. of the United States Source: Thai News Agency