YLG says gold rushes early in the year, reveals 2 factors supporting weak dollar – COVID-19 still coma

YLG reveals gold rushes for a new era The uptrend trend is clear in the medium- and long-term, with a chance of hitting $ 2,000 an ounce because two factors support both the US dollar weakening against the strong pound after the UK reached a trade deal with the European Union. And the COVID-19 outbreak remains worrisome, prompting the US to approve a new round of fiscal stimulus measures. Strong gold support, rising inflation expectations As gold fund SPDR began to buy gold, signaling a bright gold market.

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 Open market movement in positive territory 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. Over the past five months, the long-term bullish trend continues. Although during the month Oct-Nov 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 upturn in gold prices has come from two main factors: the epidemic of COVID-19. That still have more infected people 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 resulted in the price of gold moving significantly was: Depreciation of the US dollar This is due to the appreciation of the pound after the UK and the EU can agree on a trade measure from the BREXIT case. It also resulted in a higher inflation forecast. And gold is a good option for hedging inflation. As of 2020, the US dollar fell 7%, resulting in a 25% increase in gold prices, which foreign analysts have expected this year. It is predicted that the US dollar will continue to depreciate. 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, call 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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