YLG Predicts Gold Rebound to $5,000 on Central Bank Demand

YLG Bullion International assesses gold has a chance to build a price base after pressure from U.S. 10-year Treasury yields above 5%, identifying key support at $4,000–4,060 per troy ounce and targeting a recovery to $4,700–5,000 in the first half of 2027, equivalent to 74,800–79,600 baht per baht of Thai gold, supported by continued central bank accumulation worldwide.

On October 22, 2026, Pawana Nawawat, CEO of YLG Bullion International Co., Ltd., disclosed that although gold prices have declined continuously during this period due to the impact of U.S. 10-year Treasury yields exceeding 5%, gold still has an important demand zone at the $4,000–4,060 per troy ounce support level, anticipating a buy-on-dip opportunity as seen previously.

Going forward, the assessment for Q1–2 of 2027 suggests pressure factors will begin to dissipate and gold is expected to re-enter a strong uptrend, targeting a retest of resistance at $4,700–5,000 per troy ounce, while domestic gold prices have a chance to reach approximately 74,800–79,600 baht per baht of gold.

Regarding significant buying pressure, part certainly comes from central banks buying continuously. Goldman Sachs estimates that global central banks, on a seasonally adjusted basis over the past three months, have been buying at a rate of 85 tonnes per month, far above the pre-2022 average of 17 tonnes.

This demand is viewed as a structural support factor for gold, with central banks of emerging market countries, particularly China adding another 25 tonnes, still holding gold allocations below long-term appropriate levels (underweight).

The continuous central bank gold buying is seen partly as stemming from de-dollarization policies of central banks globally, with factors emerging since 2022 when Russia invaded Ukraine and Russian central bank reserves held in financial institutions were frozen.

Additionally, there are efforts to diversify away from G7 reserve currencies to hedge against geopolitical and financial risks. From all figures, purchases have not yet surpassed targets set by some central banks, suggesting opportunities for continued buying.

Most recently, the Dutch central bank (De Nederlandsche Bank) announced moving 86 tonnes of gold reserves from Ottawa and New York to London to increase trading convenience and liquidity.

However, to give investors full opportunity to profit from gold investment in U.S. dollars, YLG has launched a real-time U.S. dollar-denominated gold trading service (Gold Spot), with 99.99% gold available in both troy ounce and kilogram units with a minimum of 5 troy ounces, while 96.5% gold can be invested with a minimum of 10 baht of gold.