GCAP GOLD Says Gold Eyes Break Above $4,400 Resistance, Watch Fed and Bond Yields

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GCAP GOLD, or G Capital Company Limited, said gold prices are showing continued signs of recovery after climbing back above $4,300 and moving closer to key resistance around $4,400, supported by lower oil prices that helped ease inflation concerns. Areerat Murachai, chief analyst at G Capital Company Limited, said investors still need to watch for volatility driven by the direction of the dollar, US government bond yields, the Fed's interest rate outlook, and tensions in the Middle East. For investment strategy, she recommends waiting to buy on dips and on the formation of a base around $4,330 to $4,300, or roughly 68,250 to 67,800 baht for Thai gold, with resistance for short-term profit-taking at $4,400 to $4,420, or about 69,200 to 69,500 baht. If prices hold firmly above $4,420, or about 69,500 baht for Thai gold, that would open the way to test $4,500, or about 70,500 baht for Thai gold. But if prices fall below $4,300, or about 67,800 baht for Thai gold, she advises slowing down on investment. Factors to watch are remarks from Fed officials after the Fed raised interest rates by 0.25% at its latest meeting, with the Dot Plot signaling at least one more rate hike by the end of the year. The 10-year US bond yield is moving near 5%. Meanwhile, the situation in the Middle East can act as both a support and a pressure, and although oil prices have weakened, they are still trading near $100 a barrel after missile and drone attacks on key targets in Riyadh.

Impact on assets 4

Financials▲ · 1 stocks
Others▲ · 2 stocks
％Effective Federal Funds Rate
EFFR
▲ PositiveMonetaryrelevance

Article notes the Fed raised rates 0.25% with the Dot Plot signaling at least one more hike, implying a higher effective fed funds rate.

Others▲ · 1 stocks
⛏Gold Futures
GOLD
▲ PositiveMonetaryrelevance

Gold recovering above $4,300 toward $4,400 resistance, supported by lower oil easing inflation concerns, with Fed rate outlook and bond yields as key drivers.

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