YLG sees gold hitting $3,650 in H2
Bullion soared 25% in the first half of 2025, driven by escalating US trade tariffs, geopolitical risks and a surge in central bank gold purchases, said Pawan Nawawattanasub, chief executive of YLG Group.
The precious metal, which was trading around $3,326 per ounce on July 8, could climb to $3,500 and potentially hit $3,650 per ounce in the second half of the year, she said.
In 2024, gold posted a 27% annual gain, and over the past two decades, the average annual return has been 9.36%, according to YLG data.
"Gold continues to benefit from a perfect storm of global uncertainty, ranging from economic volatility and trade tensions to geopolitical flashpoints," Mrs Pawan said.
"Moreover, aggressive gold accumulation by global central banks and growing interest in gold exchange-traded funds [ETFs] are helping prices remain elevated."
US President Donald Trump recently threatened a new 10% tariff on any country aligned with Brics, calling such policies "anti-American" on the Truth Social platform.
Another support factor is geopolitical risks, notably the ongoing Middle East conflicts, fuelling investor flight to safe-haven assets.
Many central banks are steadily increasing gold reserves, often buying at any price without selling. Gold-backed ETFs have recorded robust inflows as investors seek to hedge against inflation and currency depreciation.
YLG projects if gold surpasses the $3,500 resistance level, the next upside target is $3,650 per ounce.
For domestic investors, this could translate to a gold price of 53,800 baht per baht-weight, with a higher target of 56,200 baht, assuming the baht holds around 32.45 to the dollar.
Despite recent volatility, Mrs Pawan said gold remains one of the most trusted, liquid and inflation-hedging assets.
"Unlike fiat currencies, gold cannot be printed. It retains value and offers liquidity 24 hours," she said.
To support broader access to gold, YLG has introduced several platforms for both seasoned and new investors.
The Gold Wallet on the Paotang app enables investment in physical gold in USD, starting from 0.1 ounce per transaction, with real-time pricing and no trade limits.
Another channel is the Get Gold app, with is tailored for first-time and small-scale investors, allowing entry- level investment starting from just 100 baht. Supporting real-time gold spot trading 24 hours, the app has gained traction among young, mobile-first users.
For long-term strategies, YLG recommends the dollar-cost averaging method, which helps investors consistently accumulate gold while smoothing out price volatility over time.
The app also allows users to schedule automatic recurring purchases, fostering disciplined investing.
"Gold remains a resilient and strategic asset amid global turbulence. With demand from central banks and retail investors rising, the long-term outlook is firmly bullish," said Mrs Pawan.
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