YLG recommends buying gold if it holds above $4,223
CommodityGeopolitics
YLG Bullion International recommends a gold investment strategy, stating that if the gold price does not break below the support level of $4,223 per ounce, investors can open a buy position. However, if it breaks below, they should hold off and wait to buy at $4,200 to $4,166 per ounce. The firm also advises selling to take profit if the price fails to break through the resistance zone of $4,316 to $4,332 per ounce, and cutting losses if the price falls below $4,166 per ounce. The domestic gold price in Thailand is quoted at 67,450 baht per baht-weight, up 700 baht from the previous day. Supporting factors include expectations that the United States wants to withdraw from conflict and end the war with Iran. Meanwhile, a pressuring factor is an Iranian draft law that could control the Strait of Hormuz, pushing up WTI and Brent crude oil prices. Additionally, the Federal Reserve's stance remains tilted toward hawkishness, with the FedWatch Tool assigning an 84% probability that the Fed will raise rates at its December meeting.
