rooster59 Posted June 21, 2020 Share Posted June 21, 2020 Covid-19 second wave leads to surge in demand for safe-haven assets By The Nation Investors are likely to shift from risk assets to safe-haven assets due to uncertainty following the second wave of Covid-19 pandemic, experts said. The baht this week moved between 30.94 and 31.24 against the dollar. The dollar strengthened due to uncertainty following rising Covid-19 cases in the US and China, pushing up demand for the dollar and yen, which are low-risk currencies. A currency analyst at CIMB Thai Bank expected the baht next week to move at between 30.80 and 31.30 against the dollar. "We advise investors to follow the Covid-19 impact on the economy and the results of Thailand's Monetary Policy Committee [MPC] meeting on June 24," the analyst said. The Stock Exchange of Thailand (SET) Index on Friday (June 19) closed at 1,370.82, down 2.16 points or 0.16 per cent, while transactions totalled Bt63.320 billion. A stock analyst at Capital Nomura Securities expected the index next week to fluctuate between 1,330 and 1,404 due to the Bank of Thailand (BOT)'s move to order commercial banks and non-banking entities to cut the interest rates they charge for credit cards, personal credit and hire purchase. "We advise investors to follow the MPC's meeting on June 24 whether the interest rate will be adjusted or not," the analyst said. The price of gold stood at US$1,729 per ounce, while the price in Thailand stood at Bt25,400 per baht weight. A gold stock analyst at YLG Bullion International said that tensions between the US and China had led to increase in demand for gold as a safe-haven asset. "We advise investors who are able to take risks to buy gold when the price drops to the support line between $1,712 and $1,717 per ounce," the analyst said. "Investors can sell some gold to take profit when the price is unable to rise over the resistance line between $1,735 and $1,737 per ounce." Source: https://www.nationthailand.com/business/30389979 -- © Copyright The Nation Thailand 2020-06-21 - Whatever you're going through, the Samaritans are here for you - Follow Thaivisa on LINE for breaking COVID-19 updates Link to comment Share on other sites More sharing options...
Popular Post sungod Posted June 21, 2020 Popular Post Share Posted June 21, 2020 When did the first wave end? 1 2 Link to comment Share on other sites More sharing options...
4reaL Posted June 21, 2020 Share Posted June 21, 2020 Buy gold so need to sell back to the brokers for their nice cut of the action. Link to comment Share on other sites More sharing options...
RichardColeman Posted June 21, 2020 Share Posted June 21, 2020 4 hours ago, rooster59 said: "We advise investors who are able to take risks to buy gold when the price drops to the support line between $1,712 and $1,717 per ounce," I guess the 'able to take risks' people are the ones currently not living hand to mouth and in food cues 2 Link to comment Share on other sites More sharing options...
Popular Post uli65 Posted June 21, 2020 Popular Post Share Posted June 21, 2020 2 hours ago, sungod said: When did the first wave end? wrong, when did the first wave start?? 1 2 Link to comment Share on other sites More sharing options...
garygooner Posted June 21, 2020 Share Posted June 21, 2020 12 minutes ago, uli65 said: wrong, when did the first wave start?? There were a few ripples around March/April. 1 Link to comment Share on other sites More sharing options...
Bender Rodriguez Posted June 21, 2020 Share Posted June 21, 2020 20 percent less interest on deposits is what I saw, un-announced, pretty sure they will not cut 20 percent on outstanding loans... Link to comment Share on other sites More sharing options...
rupert the bear Posted June 21, 2020 Share Posted June 21, 2020 theres no 2nd wave of any size anywhere,perhaps with the exception of certain states in USA where law and order is defunct.chinas is a cluster and thats what weve seen as testings minimal in most places until very recently and hasnt even started here or in many other regional countries eg malaysia indo philippines camb burma china japan etc.its complete tosh, 1 Link to comment Share on other sites More sharing options...
connda Posted June 21, 2020 Share Posted June 21, 2020 Safe havens money flowing into worthless stocks like Hertz as well as flowing into the safe havens of Thailand? The THB will be back down to 27 at this rate as the irrational lead the financial pack over the cliff. And none of this is because of Covid. This is the results of markets increasingly being completely detached from basic financial realities. Eventually the chicken will come home to roost. Got gold? 1 Link to comment Share on other sites More sharing options...
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