Thai Gold Surges Above 70,000 Baht Amid US Yield Shifts

Thai gold prices continued their upward trend on August 21, reaching a new high of 70,100 baht per baht-weight for buying and 70,300 baht for selling. The Gold Traders Association announced these prices at 9:04 am.

The surge in gold prices follows recent movements in U.S. Treasury yields. After a sharp decline, the 10-year and 30-year yields rebounded following data showing initial U.S. jobless claims fell by 6,000 to 206,000, below the expected 210,000.

The Hua Seng Heng Gold Futures noted that global gold prices have held above the 4,480-dollar support level, maintaining an upward trend. However, a break below 4,450 dollars could send prices back into a sideways pattern.