The domestic gold price opened at 8:30 a.m. on May 25, Doji Jewelry Group listed the price at: 36.28 million VND/tael (buy) and 36.43 million VND/tael (sell), an increase of 20,000 VND compared to yesterday in the afternoon of buying.
Saigon Jewelry Company listed the price of SJC gold at 36.25 million VND/tael (buy) and 36.44 million VND/tael (sell). In Ho Chi Minh City, the price of SJC gold is at 36.42 million VND/tael for selling.
World gold prices closed the US market trading session early this morning (Hanoi time) at 1,285 USD/oz, up slightly by 1 USD compared to the close of the previous session.
The price of gold delivered after June, traded on the Comex section of the New York Commodity Exchange, decreased by 0.2% to $1,283.25/ounce.
Meanwhile, the world gold price in the Asian market was trading around 1,285 USD/oz, up slightly by 2 USD compared to the same trading time this morning.
Last week, world gold prices resonate with escalating US-China trade tensions. After the embargo on Huawei's component purchases and Google's suspension of service for Android software, the US continued to put 5 more Chinese technology company names under control.
This caused the stock market to reverse and lose points in the last 2 sessions of the week. Gold, on the other hand, increased in price.
Predicting gold prices next week, 15 market experts participated in the survey on Wall Street. A total of nine voters, or 60%, called for gold to increase. 5 voters, or 33%, are neutral on gold prices next week. Only one analyst believes that prices will move lower.
Meanwhile, 431 respondents participated in the online poll on Main Street. A total of 103 voters, equivalent to 55%, called for gold to increase prices. Another 125, or 29%, predict gold will fall. The remaining 69 voters, or 16%, predict a flat market.
According to Reuters technical analyst Wang Tao, spot gold prices could break the resistance level at $1,286/ounce and surpass the next resistance level at $1,290.
