Today’s gold price (Dec 19) is still trying to maintain a move higher. However, gold prices are still finding support. from the lower movement of the dollar and US bond yields. Factors supporting the recovery despite the value of the dollar The Bank of Japan (BOJ) is still maintaining operations and accommodative monetary policy since the yen’s depreciation.In addition, BOJ Governor Kazuo Ueda’s announcement of the results of the monetary policy meeting this afternoon also indicated uncertainty about the possibility of abandoning monetary policy this way. As many expect, the BOJ still needs more information. The upward trend is sufficient to sustain inflation at the wage target level in Japan. The easing of monetary policy by the BOJ increases the end of the interest rate cycle. At the Federal Reserve (Fed), a situation like this contributed to US bonds gaining more purchasing power. Pressure on rates has led to lower instrument revenues. Thus, the value of the dollar may not recover to a large extent. However, it is recommended to follow the economic data released from the United States at 8:30 pm tonight.
Advice
• Buy short-term speculations. If the price can stand above the support zone, $2,015-2,009 per ounce.
• Sell gradually to earn profit. If the price rises to test the resistance zone, 2,044-2,051 dollars per ounce.
• Buy and cut loss positions. If the price breaks the support level of $1,991 per ounce.
This article was prepared by YLG Bullion International.
For more information, contact 02-687-9888 1 or website ylgbullion.co.th
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