Hold onto your hats, folks, because the gold market is dazzling brighter than ever, sparking excitement among enthusiasts and aficionados alike! Our beloved lustrous metal has caught the limelight yet again, crossing a mind-boggling 45,000 baht. This spectacular news comes hot off the press from the Gold Traders Association (GTA). Picture this: as of February 3, gold jewelry is flaunting a shiny new price tag of 45,250 baht per baht weight, with prices escalating by a noteworthy 150 baht in just a single day. The drama began early as the sun rose, precisely at 9:07 am, when the GTA delivered their first announcement of this golden hike. Gold bars, the timeless favorite, were changing hands at a buying price of 44,650 baht and a selling rate of 44,750 baht per baht weight. For those craving that extra bling, the shimmering 96.5% gold jewelry was being purchased at 43,842.72 baht and sold at an eye-catching 45,250 baht per baht weight.
The price surge isn’t just making waves locally; it’s part of a global gold rush! On the international stage, the Gold Spot market was glimmering at an astounding US$2,777.50 per ounce, which translates to about 93,676 baht, according to KhaoSod. These jaw-dropping figures have set the gold market abuzz, drawing investors and enthusiasts eager to ride the golden wave.
Here’s a quick golden rundown for today’s rates: Gold bars are being purchased at 44,650 baht and sold at 44,750 baht per baht weight. Meanwhile, gold jewelry fetches buying prices of 43,842.72 baht, with selling prices reaching up to 45,250 baht per baht weight. The dazzling market dynamics don’t stop there. Just last week, whispers of a 6% ascent in gold prices within the next three months have emerged, following the inauguration of Donald Trump as the US President — a result of the murky waters surrounding US economic and political policies, as mentioned by local traders.
Hua Seng Heng Gold Futures (HGF) is predicting a 6.38% increase in prices during Trump’s debut quarter and a subsequent 3.3% rise over a six-month span. HGF’s research highlights that historical evidence points to gold prices often gaining strength amid political uncertainties and looming expectations tied to a new president’s policy shifts. During Trump’s initial presidency from 2017 to 2021, the connection between his administration and uncertainty seemingly solidified gold’s reputation as a haven, making it resilient to such conditions.
So, if gold has your heart set aflutter or you’re considering buying or selling, the time might just be ripe to seize this golden opportunity — before prices skyrocket further!
In other news around Thailand, here’s a sneak peek into the latest happenings. From crime and environment to politics and road incidents, here’s what’s catching the headlines:
- Thailand is bracing for storms and high waves, ushered in by a cool front from China.
- A debt-ridden Thai man’s arrest for swiping a bag from a Japanese tourist in Chiang Mai.
- Phuket authorities are on a mission to curb pollution as air quality worsens.
- Amid a ballot bedlam, nearly two million votes were rendered void in local elections.
- Two social media influencers find themselves in hot water for promoting illegal substances online.
From thrilling gold market surges to local stories keeping us informed, excitement is brewing in every corner of Thailand. Whether you’re tuning into the market like a hawk or browsing the daily antics across the nation, there’s no shortage of news making its mark on this vibrant canvas!
The spike in gold prices is purely speculative. Investors rushing into gold are just reacting to the fear surrounding Trump’s policies.
Maybe, but gold has always been a safe haven. It’s a smart move in uncertain times.
I suppose, but remember that bubbles can burst too. Let’s be cautious here.
For sure! Diversifying is the key. Never put all your eggs in one gold basket.
This gold surge is absurd. All this hype over Trump again? Overreaction much?
Well, political uncertainty has always influenced gold prices. It’s logical if you think about it.
True, but we need to move past letting every political change push markets into a frenzy.
High gold prices? Great for those who invested earlier. Too late for newcomers though.
Guess I should have listened. Is silver a better option now?
It might be, silver is catching up and could yield good returns in the future.
Gold prices always rise with political uncertainty. History repeats itself.
Totally, but this feels different with how fast it’s happened. Something big might be brewing.
Good point, historical patterns can only guide us so much.
Exactly, history has patterns but every situation is unique.
To buy or not to buy—gold prices seem too volatile for my taste right now.
Wish I knew earlier about the gold hike. My savings aren’t making much with these stagnant rates.
I’m new to this, is gold still a good buy or am I too late?
It might be late for a huge profit, but it’s always wise to have some gold for stability.
Diversification is key, maybe not gold alone.
Buying gold now is like buying a lottery ticket after the numbers have been called.
This is why crypto is the future. No more gold fever, just digital progress.
You can’t wear crypto. Nothing beats the physical allure of gold.