Chinese new year gold The price dropped less than 2.8 thousand baht.
On January 29, 2021 at 5:12 p.m.
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YLG points for Chinese New Year this year, gold moves narrow. Expected to be lower than 28,000 baht, ready to issue a gold bar, a collection of ox patterns to support purchasing power during Chinese New Year.
Mrs. Pawan Navawatthanasup, Chief Executive Officer of YLG Bullion International Company Limited (YLG), a major importer and exporter of Thai gold bullion, revealed that the gold price direction during Chinese New Year this year will not be very noticeable. Despite the purchasing power from China and Singapore to stimulate global prices. But it is expected that the domestic price will not adjust to 28,000 baht because if it is to reach that level, there will be a heavier support factor. At present, the price of gold is moving in a narrow swing.
The first notable factor is the Sino-US conflict. In the conflict between China and Taiwan, the United States has played a role in supporting Taiwan. Although this issue is a factor supporting gold However, there are still factors to pressure the gold price from the case of the US dollar appreciation Of concern of Joe Biden’s fiscal stimulus worth US $ 1.9 trillion. That may have to lower the limits to reduce the criticism of Congress. Causing investors to reduce their holdings of risky assets And holding the US dollar as a safe currency
As for the movement of gold in this period, it is seen that it will move in a narrow frame. This is despite news of the Federal Reserve (Fed) meeting that may give a clearer picture of whether it will continue to rebound or will become a clear downtrend.
Therefore, investors should set a stop loss during this period. By giving the first support 1,821 US dollars per ounce and receiving the key 1,800 US dollars per ounce If this area is not dropped there is a chance to rebound the resistance tester. But if this support is broken, there is a chance to continue As for resistance, look at US $ 1,853 an ounce. If passable, it may be tested for significant resistance at US $ 1,875 an ounce.
However, for this year’s Chinese New Year, YLG has launched a 96.5% gold bar, a new auspicious pattern collection to welcome the year of the Ox. Both in the form of gold bars weighing from 0.5 baht and 1 baht, as well as small gold bars presented in the form of gold cards weighing 0.5 gram and 1 gram so that customers can choose to buy as a gift during the Chinese New Year at an affordable price. Easier
There is also an auspicious patterned gold disc with prices starting at less than 1,000 baht. Interested parties can choose to purchase online through http://www.ylgprecious.co.th/ Investors who are interested in investing in gold bullion can see details through www.ylgbullion.co.th or call for more information at 02-687-9888 and via the company’s Facebook page https://www.facebook.com/YLGGroup And if interested in investing in gold futures contracts (Gold Online Futures and Gold Futures), you can contact www.ylgfutures.co.th or call for more information at 02-687-9999
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