GCAP GOLD says gold prices are likely to see high volatility, with two key factors to watch: progress in talks between the United States and Iran, which could lead to the reopening of the Strait of Hormuz this week, and the release of US non-farm payrolls on Friday. The market expects an increase of 85,000 jobs, up from 57,000 in June, with the unemployment rate steady at 4.2 percent. If the data meets or beats expectations, the Federal Reserve may press ahead with tightening, the dollar could strengthen, and gold may pull back. But if it disappoints, rate-hike pressure would ease, supporting a gold recovery. Analysts recommend waiting to buy on dips near support at 4,160 to 4,120 dollars, or around 64,800 to 64,500 baht for Thai gold, and avoiding chasing rallies. Key resistance is seen at 4,330 to 4,365 dollars, or roughly 67,300 to 67,800 baht.
G Capital Public Company LimitedGCAP GOLD discusses gold volatility tied to US-Iran talks and US jobs data, affecting gold prices and trading recommendations.
