Mr. Piboon Ritwiriyaphon announced the gold price confidence index for January ’64 increased compared to December ’20 from 50.81 points to 63.43 points, up 12.62 points or equivalent to 24.84%, with factors that make the index Increased from the uncertainty of the world economy. Situation of the COVID-19 Outbreak And economic stimulus from the COVID-19 situation
While the three-month gold price confidence index in the first quarter of 64 (Jan-Mar) increased from the last quarter of 2020 from 61.01 points to 69.57 points, an increase of 8.56. Point or accounted for 14.02% by the index that has increased it Likely caused by Situation of the COVID-19 outbreak The uncertainty of the world economy And economic stimulus measures to reduce the impact of the epidemic of COVID-19
Forecasts for gold demand in January ’16 of 342 samples showed that 40.35% were unsure whether to buy gold, while 33.33% expected to buy gold during this month and 26.32% still. Do not buy gold in Jan.
Summary of 13 samples of large gold trader and derivatives brokerage that refer to the gold price, most of them believe that the price of gold in January ’21 will increase with 8. And is expected to decline, there are 3 cases, the number is expected to be close to the price of gold in December, there are 2 cases.
As for the forecast of gold prices in January ’64 of the major gold traders, the view is as follows: Gold Spot provides an average range of $ 1,799-1,975 per ounce. The domestic bullion price is 96.5% purity. Average area 25,900-28,000 Baht per 1 baht weight of gold and the value of baht The average framework is 29.61-30.34 baht / US dollar. Gold investment in January ’64, a major gold trader, suggested that if the price of gold could stand above the support area of US $ 1,806 per ounce, it is expected that the price will reverse test the resistance zone 1,911-1,966 US dollars per ounce. But if unable to stand above the said resistance level May need to be careful with the selling force that comes out This may result in the price falling to the original support at 1,806 or the next support at 1,765 USD / oz. Or delay the purchase to wait and see the situation
However, the factor to be monitored is the economic policy of the new President of the United States. And the process of power transfer is going to go smoothly or not. And measures to control the epidemic situation of the COVID-19 virus At the time, Joe Biden’s new government sent a signal to focus on controlling the COVID-19 outbreak. And pushing for economic stimulus measures
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