Domestic gold prices opened this morning down 400 baht per baht-weight of gold, tracking the decline in global gold prices. This follows the release of strong US non-farm payroll figures of 162,000 jobs, which exceeded expectations. As a result, CME Group's FedWatch Tool raised its forecast of a possible 0.25% rate hike by the Fed to 59.6% from 39.4%. The Gold Traders Association announced buying prices for gold bars at 68,550 baht per baht-weight and selling at 68,750 baht, while gold ornaments were bought at 67,173.96 baht and sold at 69,550 baht. Analysis from Hua Seng Heng Gold Futures stated that global gold remains above the support level of $4,380 and has potential to rise, but if it breaks the next support at $4,350, it may continue to correct. Meanwhile, the SPDR fund increased its gold holdings by 9.98 tonnes.
CME Group IncFed rate hike odds increased, which may affect CME's trading volumes but not directly mentioned.
