“YLG” reveals the gold rush to receive a new era The uptrend trend is clear in the medium to long term, with a chance to touch $ 2,000 per ounce. Two factors are encouraged as the gold fund SPDR begins to buy gold, signaling the fresh gold market.S
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On 6 Jan 64, Mrs. Pawan Navawatthanasup, Chief Executive Officer of YLG Bullion International Company Limited (YLG), a major importer and exporter of Thai gold bullion, said after the gold market. Open for full trading in 2021. Gold market moves in positive territory. And able to stand above US $ 1,900 an ounce is strong. Resulting in a bright mid-term trend After the price breaks the sideways down payment Over the past five months, the long-term bullish trend continues. Although during the month Oct-Nov 2020 The gold price will drop somewhat. During that time, SPDR funds gradually sold out some of their gold. But recently, near the end of 2020, SPDR has returned to buy gold again. It is a good signal for the gold market. However, the rise of the gold price in this period. It comes from two main factors: the spread of COVID-19 that continues to increase in infected people. Impact on the global economy, while President Donald Trump recently signed a new round of fiscal stimulus worth US $ 9 billion. It is also expected that the government of President Joe Biden should issue a third round of stimulus measures as well.
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The second factor that contributed to the significant rise in gold prices was the depreciation of the US dollar. Due to the appreciation of the pound after the British and the European Union. Can agree on trade measures from BREXIT. In addition, the fiscal stimulus of the United States. It also resulted in a higher inflation forecast. And gold is a good alternative to hedging against inflation. In 2020, the US dollar fell 7%, resulting in a 25% increase in the price of gold. The US dollar will continue to depreciate. Which is a positive factor for gold Moreover, many central banks have reduced their holdings in the US dollar. And turned to hold more currencies, including gold. As for the longer term, gold will continue to rise for another 1-2 years as interest rates will remain low until 2023.
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For the direction of the movement of gold prices during this period Even if the direction is an uptrend But there may be a profitable sale at some point Which investors can gradually enter and accumulate But focus on making short-term profits around Recommended to keep an eye on the major resistance around US $ 1,965 per ounce. If passable, it increases the chances of the price hitting US $ 2,000 an ounce. For investors who can accept the risk Buyable when falling at the support at 1,921 USD per ounce. By setting a stop loss in the area of US $ 1,907 per ounce.
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