YLG sees gold’s downtrend nearing an end, sets target at 82,200 baht
CommodityMacro
Ms. Pawan Nawawattanasap, Chief Executive Officer of YLG Bullion International, said gold prices rose to their highest level in nearly seven weeks and posted the largest daily gain since February. The move was supported by progress in US-Iran talks on opening the Strait of Hormuz, which pushed oil prices lower and eased concerns about a Federal Reserve rate hike in September. Investors now see only a 54.5% chance of rates reaching 3.75–4.00%, down from 60–70% previously. YLG assesses that gold’s downtrend is close to an end and expects the consolidation phase to last no longer than the second quarter of 2027. Central banks around the world continue to buy gold, with net purchases of 289 tonnes in the second quarter of 2026, up 62% from the same period a year earlier, and 45% of central banks surveyed plan to increase their gold holdings over the next 12 months. YLG sets its gold price target after the consolidation phase at 4,890–5,250 US dollars per troy ounce, and the domestic gold price at 76,500–82,200 baht per baht-weight, based on an exchange rate of 33.08 baht per dollar.
