YLG Bullion and Futures Public Company LimitedPrivate± Mixed
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YLG Advises Profit-Taking on Gold if It Fails to Break $4,700-$4,773
CommodityGeopolitics
YLG recommends an investment strategy of taking profits on long gold positions if prices fail to break resistance at $4,700-$4,773 per ounce. Today, gold prices are fluctuating within a range of $4,620-$4,696 per ounce. Meanwhile, domestic 96.5% gold bars are selling at 71,800 baht per baht-weight, down 50 baht from the previous day. Pressuring factors include the U.S. announcing a new round of sanctions on Iran under the name Operation Economic Outcast, covering five sectors including gold, and the dollar index strengthening to 99.03 points. Supporting factors include the U.S. Treasury's bond buyback plan, which may use about $950 billion from the Treasury General Account, and expanding long-term bond buybacks to at least $4 billion. Additionally, gold ETF funds increased holdings by 46.7 tonnes, valued at $6.4 billion, over the past week, the highest in 10 months. YLG advises moving the trailing stop to $4,625 to lock in profits and reopening long positions if prices do not break below this support. However, if it breaks, delay buying at $4,556-$4,500 and cut losses if it falls below $4,500.