Market conditions for February 17, 2021
Gold prices swung within the range of $ 1,783.70 to $ 1,795.05 an ounce. While 96.5% gold bars in the country were sold at 25,450 baht per baht, gold dropped 350 baht from the previous day at 25,800 baht per baht gold While gold futures GFG21 is 25,510 baht, down 380 baht from the previous day at 25,890 baht. Gold online futures GOH21 was at $ 1,788.60 an ounce, down 37.30 an ounce. From the previous day at $ 1,825.90 an ounce.
(Note: This information is prepared at 15.51 PM on 17/02/2021)
Trend aspect of February 18, 2021 James Bullard, president of the US Federal Reserve (Fed), said that the financial situation in the United States. “Overall, it is in good shape” with the possibility that US economic growth will outpace China. As the US enters the second year of the COVID-19 outbreak. But US health officials are conducting a vaccination against COVID-19. To the people The United States has shifted from the panic it faced last spring and could see a “soaring” economy as the US recovered from the epidemic. Kansas City Fed President Esther George said fiscal policy would remain a major driver of the US economy. Until the epidemic subsides “If the financial tightening problem intensifies The result is Real estate companies have to face default on debt repayment. Lender banks face bad debt problems And it will weaken economic activity, ”said Mrs. George, investors considering economic recovery trends and additional stimulus plans. Compared to ongoing concerns about COVID-19 After a sharp drop in new COVID-19 cases, Progress on vaccine distribution And the better-than-expected fourth-quarter results boosted hopes of a rapid business recovery this year. The factor prompted US 10-year bond yields to hit 1.3276 percent above 1.3 percent for the first time since February. By 2020, soaring bond yields add opportunity costs (opportunity cost) In holding gold Because gold is an asset with no interest yields, the risk of US bond yields increases further. Until supporting the US dollar appreciation against the major currencies If there is a clearer global economic recovery after vaccines begin to spread, There is still a trend to pressure the price of gold to recover at a limited level. The release of US economic figures to signal the strength of the economy. By Thursday night The weekly number of jobless benefits will be disclosed., Figures for building start and construction permits in January,February production index from the Philadelphia Fed, Import prices and export prices in Jan. In the short term, if gold prices cannot stand strong above the resistance 1,803-1,821 an ounce, Investors also need to be wary of price weakness again. While investors with gold in their hands Take profit when the price rebounds or does not pass the resistance area. And wait to buy back if the price of gold can stand above support 1,784-1,764 dollars per ounce.
Investment strategy YLG views that
If the gold price fails to break through the resistance of $ 1,803-1,821 per ounce, it will weaken. If the gold price can stand strong above support 1,784-1,764 per ounce. The price is expected to return to test resistance again. But if you can’t stand, you have to be careful, the selling force might cause the price to drop to the next support level. For those without gold on hand, wait and see around $ 1,784-1,764 an ounce. If able to stand firmly as a point of buying and speculating again. But if the price falls off the said support Suggest to delay the investment to wait and see the situation.
Gold bar (96.50%)
Support line 1,784 (25,300 baht) 1,764 (25,000 baht) 1,746 (24,750 baht)
Resistance levels 1,803 (25,600 baht) 1,821 (26,850 baht) 1,839 (26,100 baht)
* Note: Support and resistance levels of gold bullion (96.50%) are prices from Convert According to the theoretical formula Not referring to the announcement of the Gold Association.
GOLD FUTURES
(GFG21)
Support line 1,784 (25,430 baht) 1,764 (25,140 baht) 1,746 (24,890 baht)
Resistance levels 1,803 (25,700 baht) 1,821 (25,960 baht) 1,839 (26,210 baht)
GOLD ONLINE
FUTURES (GOH21)
Support $ 1,785 / ounce $ 1,765 / ounce $ 1,747 / ounce
Resistance $ 1,804 / ounce $ 1,822 / ounce $ 1,840 / ounce
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