Bangkok: Gold prices surged again, boosted by falling US Treasury yields and the reopening of federal government agencies, with President Donald Trump signing a temporary spending bill into law, ending the longest US government shutdown in history at 43 days. According to Thai News Agency, the Gold Traders Association reported that as of 10:58 a.m. today, the Thai gold price had adjusted six times, totaling 1,000 baht from yesterday's closing price. Selling prices for gold bars were 64,400 baht, while selling prices for gold ornaments were 65,200 baht. Spot gold prices were trading at US$4,208 per ounce, with the baht at 32.35 baht per US dollar. Meanwhile, gold futures on the New York market closed above US$4,200 per ounce last night, driven by falling US government bond yields, fueled by hopes that US federal agencies would reopen, prompting the release of key economic data ahead of the Federal Reserve's (Fed) December policy meeting. Investors continue to expect the Fed to cut interest rates at this meeti ng. Analysts at JPMorgan Chase predict that gold prices will surpass $5,000 an ounce by the fourth quarter of 2026, driven by central banks and consumers being key buyers during the period of gold price weakness. An analysis from Hua Seng Heng Gold Futures Co., Ltd. indicates that the SPDR Gold Fund holds the same net gold holdings as the previous year, totaling 1,046.36 tons. The global gold price has risen to test the resistance level at $4,211 and then declined. Therefore, it is estimated that the global gold price may adjust downward to test the support level at $4,160 and have the potential to rebound later. However, if the global gold price falls below the next support level at $4,140, the global gold price may continue to adjust downward. Domestic gold prices are recovering in line with the global gold price, while the baht remains sideways. Therefore, it is recommended to gradually sell at the resistance level of 64,450 baht and gradually buy at the support level of 63,950 baht. However, if the pric e falls below the support level of 63,700 baht, it is recommended to sell to cut losses. The Kasikorn Research Center reported that the baht fluctuated between 32.38 and 32.40 baht per dollar this morning, compared to yesterday's closing price of 32.51 baht per dollar. This represents a slight appreciation, but overall movement remains within a range, preceding the lifting of the US shutdown, reflecting the direction of gold. Gold prices, which fell below $4,200 per ounce this morning during the Asian session, also limited the baht's appreciation. The baht's movement is estimated to be within a range of 32.25-32.50 baht per dollar today. Key factors to monitor include foreign fund flows, the direction of Asian currencies and global gold prices, the UK's Q3 2025 GDP figures, and the situation in the United States.
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