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Major Thai gold traders have agreed to use US dollars to limit baht volatility, according to a Bank of Thailand executive. The article says the gold market is about $50 billion a year and the baht has gained about 5.6% from its March low.
The move is a currency-market mechanism with little direct effect on feed commodity supply or prices.
bangkokpost.comSomruedi Banchongduang, Darana ChudasriJul 29, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
