20 September 2021 – 17:16
YLG will keep an eye on the outcome of this week’s Fed meeting. If the signal is reduced QE, gold prices continue to fall
Ms Thipa Nawawatthanasap, Chief Executive Officer of YLG Bullion and Futures Co., Ltd. or YLG, revealed that the movement of the gold direction this week will continue to decline from the last week’s decline quite strongly. or not Must keep an eye on the US Federal Reserve meeting that will be held on September 21-22, especially on the issue of signaling to reduce the QE limit because if signaling that it will reduce the QE limit within this year, it will affect pressure. gold price But if signaling that such a reduction in the limit will not occur within this year. It will make the gold price respond to good news. During this period, various US economic figures are considered to have a huge impact on the price of gold. In the week before the price of gold fell, the main reason was the rise in US 10-year bond yields. including the US dollar strengthening
For the movement of the gold price After the price dropped from 1779 to 1,775 US dollars per ounce. causing the price to be further reduced The first support will be at $1,739 an ounce. If it stands, the price may bounce back to $1,779-1,802 an ounce. which as long as it does not pass through the aforementioned line may be reduced again But if it passes and breaks through 1,833 US dollars per ounce or 28,950 baht per baht gold. It will bring the direction back to positive. Conversely, if the price drops to 1,739 US dollars per ounce or 27,500 baht per baht gold. It is not advisable to rush to buy and wait for the base to set. and technical signals before making a purchase decision. It is important to take into account the price volatility from the results of the Fed meeting. For investors who are less risk-takers, their positions may be lowered to control their portfolio risk. But if you can take a lot of risks May invest in the short term based on the price movement framework. and set a stop loss in advance if the price does not meet the forecast
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