Although gold prices rebounded by 750 baht per baht-weight this morning (27 Jun 2026) as Gold Spot rose above $4,000 per ounce, earlier in the week prices had fallen below $3,970 per ounce, leading investors to carefully consider their buying and selling plans during this period.
Wathipa Nawawattanasup, Chief Executive Officer of YLG Bullion and Futures Co., Ltd. (YLG), explained that during the week of 22-26 June, gold prices fell continuously to around the $4,000 per ounce level, mainly due to the strengthening U.S. dollar amid concerns that the U.S. Federal Reserve (Fed) might raise interest rates.
Technically, the $4,000 per ounce price point is considered attractive because it is about 10.6% below the 200-day Simple Moving Average (SMA), which stands at $4,474 per ounce. Historical data since 2014 shows that there have been seven instances where gold prices dropped more than 10% below the 200-day SMA, followed by price recoveries.
In the long term, gold is still viewed as bullish due to ongoing buying by central banks worldwide. According to a survey by the World Gold Council, 89% of central banks expect their gold reserves to increase in the next 12 months. Furthermore, 45% of respondents intend to "increase gold purchases for their reserves," while most of the remainder plan to maintain current holdings, with only 1% considering a reduction.
In the latest analysis from Hua Seng Heng Group, it was noted that although global gold prices recovered after testing support at $3,990 per ounce, the market may enter a sideways phase. Should gold fall below the next support at $3,972 per ounce, there is a high risk of reaching new lows.
Meanwhile, Piboonrit Wiriyapol, Director of the Gold Research Center, stated that the main factors currently affecting gold prices include Fed meetings, U.S. inflation trends, the U.S. dollar exchange rate, oil prices, and progress in U.S.-Iran negotiations. The latest investment guidance for gold is as follows:
- Short-term investors are advised not to chase prices during sharp rallies. Instead, they should wait for price pullbacks to accumulate gradually, while clearly setting profit-taking and stop-loss points.
- Medium- to long-term investors should divide their investment capital into multiple parts rather than investing all at once. Gold remains an asset that helps diversify portfolio risk and continues to see buying interest from central banks.
Finally, given the volatility in gold prices, investors should understand fundamental factors and continuously monitor information before making investment decisions.
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