YLG Bullion reports gold price on 25 Sep 2019

YLG Bullion International Company Limited reports gold price on 25 September 2019 and the trend of gold trading

basic factor

Gold price yesterday closed up 9.60 dollars per ounce. Although during the day, the price of gold fell to the lowest level of 1515.48 dollars per ounce. But the gold price rebounded strongly later This was supported by the weakening of the dollar after the release of US economic figures such as the Consumer Confidence Index from the Conference Board and the September manufacturing index from Fed Richmond which came out worse than expected. Not only that, the US dollar has also been under increasing pressure from the political turmoil of the United States. After the President of the US House of Representatives opened the inquiry to dismiss President Donald. Trump leaves the position. Base on contacting foreign governments to interfere with US elections The news said that aside from pressure on the dollar Also causing investors to return to close the risk (Risk-off) until stimulating buying gold as a safe asset. As a result, gold prices rebounded from the lowest level during the day to the highest level in nearly 3 weeks at $ 1,535 an ounce. For today, follow up on the disclosure of interest resolutions from the Monetary Policy Committee (MPC), Bank of Thailand. MPC expected to keep interest rates And follow up on the disclosure of US new home sales along with various uncertain situations closely

Technical factors

If the price of gold can break out the resistance range of 1,535 dollars per ounce, there may be a pressure to move the price of gold further upwards. The next resistance will be in the zone 1,544-1,557 dollars per ounce. If unable to break out, the weakness may occur. Down But if standing above the support zone 1,524-1,515 dollars per ounce Will allow the price to continue to move up to test resistance at $ 1,535 an ounce again.

Investment strategy

Can continue buying if the price does not fall below the support of 1,524-1,515 dollars per ounce. Or if the risk is high, may buy more if the price stands above the support level To gradually close the position to take a profit if the price rebounds to not pass the resistance of $ 1,535 an ounce. If able to pass, can continue to hold

suggestion If the price of gold can stand above the area of ​​1,524-1,515 dollars per ounce Risk opening a buying position (cutting losses if losing Take a profit if gold price does not pass through the area of ​​1,535 dollars per ounce. If able to pass, can continue to hold