Today’s gold price (Sept. 15) is still fluctuating within a narrow range. But it has recovered from its lowest level in more than 3 weeks. Gold prices have been pressured by the rising dollar value and US bond yields. The value of the dollar has increased. It is near a six-month high, driven by the prospect that the U.S. economy may be able to avoid a recession over the next 12 months. Even though the US Federal Reserve (Fed) will maintain interest rates at a high level for a long time, however, gold prices have received support. from signs of Chinese economic recovery After late today China reveals industrial production and retail sales figures for August that rose more than analysts expected. The Yuan therefore strengthened. together put pressure on the dollar to shrink. However, analysts have the view that The Chinese economy is still at risk of slowing down. Due to the situation in the real estate sector China’s has not signaled any improvement. This is in line with investment figures in the sector in August which decreased 8.8% from last year. As a result, the signs of Chinese economic recovery are still uncertain. Therefore, gold prices may receive positive benefits for only a period of time. coupled with the value of the dollar still fluctuating at a high level Also this week The dollar is likely to gain net appreciation for the 9th week in a row. For this reason, the gold price has factors that push it to rise only to a limited level. In addition, it is recommended to follow US economic figures such as the Consumer Confidence Index. For the month of September from the University of Michigan That will be revealed tonight at 9:00 p.m.
Advice
• Take the risk of selling to make a profit. If the price cannot stand above the resistance zone of 1,924-1,930 dollars per ounce.
• Sell position to cut losses. If the price passes the resistance area of 1,953 dollars per ounce.
• Buy back to make a profit. If the price does not fall below the support level of 1,889-1,884 dollars per ounce.
This article was produced by YLG Bullion International.
For more information, contact 02-687-9888 press 1 or website ylgbullion.co.th
2023-09-15 15:34:07
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