YLG recommends investors gradually buy gold when the price pulls back to 4,311 to 4,203 dollars per ounce, and cut losses if the price breaks below 4,203 dollars. It assesses today's resistance at 4,385 dollars; if that level is cleared, it suggests delaying profit-taking at 4,407 to 4,449 dollars. Gold prices fluctuated in a range of 4,325 to 4,363 dollars per ounce, while domestic 96.5% gold bullion was sold at 68,250 baht per baht-weight of gold, down 550 baht from the previous day. The main pressure came from the 30-year US Treasury yield surging to a 19-year high of 5.33% before easing to 5.296%, while the 10-year yield stood at 4.714%, the highest since January 2025, raising the cost of holding gold. Meanwhile, the July 2026 budget deficit came in at 432.3 billion dollars, the highest since March 2021, bringing the cumulative deficit since the start of the year to nearly 1.8 trillion dollars, with full-year interest expenses of around 1.2 trillion dollars on public debt of nearly 40 trillion dollars. This forces the Treasury to issue more bonds and pressures gold prices over the long term. On the US economic data front, there is still no room for the Fed to ease, as the Atlanta Fed's GDPNow model indicates the US economy expanded 4.0% in the third quarter of 2026, accelerating from 1.5% in the second quarter and 2.1% in the first quarter. At the same time, US-Iran tensions have escalated, with Iran's parliament speaker announcing that the Strait of Hormuz will remain closed until the United States lifts its naval blockade and various sanctions.
10-year Treasury yield at 4.714%, highest since Jan 2025, reflecting higher rates and bond supply pressures.
30-year yield surged to 5.33% before easing to 5.296%, a 19-year high, indicating higher long-term rates.
