According to the survey results recently conducted by Kitco, up to 65% of experts believe that gold prices will increase next week, only 6% of experts believe that gold prices have decreased and 29% remain neutral.
Kitco's online market survey also gave a similar result as up to 65% of investors predicted gold prices to increase, only 20% predicted gold prices to decrease and 15% thought gold prices would go sideways.
The above forecasts further strengthen the upward trend of gold prices in the world market, which has been maintained in most trading sessions of the week
In fact, in the past week, world gold prices as well as domestic gold prices have had notable fluctuations following information about the COVID-19 epidemic.
Specifically, in the world market, up to 3/5 trading sessions had an increase in price and thereby brought the gold price this week to a valuable increase of 0.8%. By the end of last week, world gold prices had established a new price peak of 1,583.6 USD/ounce, the highest price since the beginning of February 2020.
The increase in world gold prices strongly affected domestic gold prices and pushed gold prices to far exceed the 44 million VND/tael mark. As of early this afternoon (February 16), the selling price of gold from many domestic enterprises was generally around 44.35 - 44.53 million VND/tael.
The negative information about the COVID-19 epidemic in China and many countries around the world has increasingly strengthened gold's safe-haven role in the investment world and caused gold prices to maintain their upward momentum in recent days.
Senior manager of investment consulting firm RBC Wealth Management - George Gero acknowledged the developments of the COVID-19 epidemic as well as an unclear scenario about this epidemic that is a factor that has a huge impact on the gold market.
As previously forecast, gold prices are firmly consolidating their upward trend to a new price of $1,600/ounce.
