Bangkok--18 Aug--UOB Bullion and Futures
The SET50 Index September futures opened at 581.0. After the bell, the contract hit the intraday low of 580.2. Later, the contract moved sideways during both sessions, but rallied to hit its highest level of 589.9. The contract settled at 589.3, up 8.2 points with trading volume of 6,308.
This Morning Trend
Global shares prices rose on Tuesday as two big U.S. retailers reported higher-than-expected earnings, while the euro rose as worries over Europe's sovereign debt problems eased.
U.S. Treasury prices fell sharply after rallying on Monday on speculative buying ahead of purchases by the U.S. Federal Reserve, which said it is reinvesting the proceeds of its mortgage bond holdings by buying U.S. Treasuries.
Asian stocks are set to rise on Wednesday, as confidence in global markets was helped by a $39 billion takeover bid in the agriculture sector and strong results from major U.S. retailers, which eased concerns about economic recovery.
Japan's Nikkei average rose 0.5 percent on Wednesday, buoyed by short-covering after two days of falls this week, though rises were expected to be limited by the yen's persistent strength against the dollar.
Gold Market Snapshot
Gold futures August contract in Thailand settled up THB 10 at THB 18,500 on the TFEX market with volume of 2,018 contracts.
Gold rose to a 1-1/2 month high on Tuesday, gaining for a fourth straight session as the dollar-denominated metal benefited from a stronger euro against the U.S. currency.
Spot gold hit $1,228.45 -- its highest level since July 1 -- and was at $1,225.65 an ounce at 3:45 p.m. EDT (1945 GMT), against $1,222.85 late in New York on Monday.
U.S. gold futures for December delivery settled up $2.10 at $1,228.30 an ounce.
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