Bullish Outlook for Gold Prices Amid Global Uncertainty
Traders are optimistic about gold prices for the next three to five years due to global uncertainty and geopolitical conflicts. Tipa Nawawattanasub of YLG Bullion and Futures suggests a five to fifteen percent portfolio allocation to gold. As of June 19, 2024, international gold prices stand at two thousand three hundred forty-two dollars an ounce.
Traders are optimistic about gold prices over the next 3-5 years due to ongoing global economic uncertainty and geopolitical conflicts.
Tipa Nawawattanasub, chief executive of YLG Bullion and Futures, suggests investors allocate 5-15% of their portfolios to gold.
The domestic gold price in Thailand has risen by about 20% this year, partly due to the baht's depreciation.
However, short-term profit-taking has caused some temporary dips.
As of June 19, 2024, the price of gold in the international market stands at $2,342 an ounce.
Key support and resistance levels are forecasted at $2,277 and $2,650 an ounce, respectively.
Factors such as central banks increasing gold holdings and potential US economic and political shifts are expected to impact gold prices.
Tipa Nawawattanasub, chief executive of YLG Bullion and Futures, suggests investors allocate 5-15% of their portfolios to gold.
The domestic gold price in Thailand has risen by about 20% this year, partly due to the baht's depreciation.
However, short-term profit-taking has caused some temporary dips.
As of June 19, 2024, the price of gold in the international market stands at $2,342 an ounce.
Key support and resistance levels are forecasted at $2,277 and $2,650 an ounce, respectively.
Factors such as central banks increasing gold holdings and potential US economic and political shifts are expected to impact gold prices.
