BANGKOK, Thailand – Thai gold trader YLG Bullion & Futures says gold prices still have significant upside potential despite heightened market volatility, driven by geopolitical tensions, inflation risks, and rising global debt. According to YLG Bullion & Futures, gold prices have already climbed 7% since the start of 2026, continuing to perform strongly as both a safe-haven asset and a long-term investment. Thipa Nawawattanasap, chief executive officer of YLG, said long-term market trends remain bullish even though prices have experienced sharp swings this year.
The company maintained its year-end gold target at between US$5,596 and US$5,769 per ounce, equivalent to around 86,000 to 88,700 baht per baht-weight of gold in Thailand. YLG identified three major drivers supporting the long-term rise in gold prices: concerns over currency debasement caused by massive global money supply expansion and public debt, continued gold accumulation by central banks seeking to reduce reliance on the US dollar, and growing fiscal pressures forcing governments to maintain deficit spending. The company also pointed to uncertainty surrounding policies linked to Donald Trump as an additional factor encouraging central banks to diversify reserves into gold.
While YLG believes the long-term trend remains upward, analysts warned that the market is likely to remain highly volatile, with periodic corrections and pullbacks along the way.
The company said gold remains technically strong as long as prices stay above key support levels, adding that investors should prepare for larger price swings than in previous years.
