YLG reveals gold rushes for a new era The uptrend is clear, both medium- and long-term, with a hope of hitting $ 2,000 per ounce.
YLG points gold to get the beginning of the 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 after the gold market was fully opened in 2021 Gold opens up a positive market movement. And able to stand above US $ 1,900 an ounce is strong. As a result, the medium-term trend is bright after the price breaks the sideways down payment. That has been going on for 5 months.
The long term is still an uptrend. Although during the months of Oct. to Nov. By 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 in gold prices at this time is due to two main factors: the COVID-19 epidemic, which continues to increase infected. 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.
The second factor that contributed to the significant rise in gold prices was the depreciation of the US dollar. This is due to the strengthening of the pound after Britain and the EU were able to agree on a trade measure from the BREXIT case, and the release of the US fiscal stimulus package pushed inflation expectations higher. And gold is a good alternative to hedging against inflation.
In 2020, the US dollar fell 7%, bringing gold prices up 25% this year, according to foreign analysts also anticipating that the US dollar will continue to weaken. 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.
For the direction of the movement of gold prices during this period, although the direction is 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 hedging investors, they can buy when the support crosses at 1,921 USD per ounce. By setting a stop loss in the area of US $ 1,907 per ounce.
Investors interested in investing in gold bullion can see details at www.ylgbullion.co.th or call for more information at 0-2687-9888 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 0-2687-9999
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