Gold price update at the closing session 12. 4: Heavy losses after a week of spending money

SJC gold bar price

Closing the week's trading session, Saigon SJC Jewelry Company listed SJC gold prices at 169.4-172.4 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.

Compared to the closing session of last week (April 5), the price of SJC gold bars at Saigon SJC Jewelry Company decreased by 2.1 million VND/tael in both directions.

Meanwhile, DOJI listed SJC gold price at the threshold of 169.4-172.4 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.

Compared to the closing session of last week (April 5), SJC gold bar price at DOJI decreased by 1.6 million VND/tael on the buying side and decreased by 2.1 million VND/tael on the selling side.

If buying SJC gold bars in the April 5th session and selling them in today's session (April 12th), buyers at Saigon SJC and DOJI Jewelry Company both lost 5.1 million VND/tael.

9999 gold ring price

At the same time, DOJI Group listed the price of gold rings at the threshold of 169.4-172.4 million VND/tael (buying - selling), down 1.6 million VND/tael on the buying side and down 2.1 million VND/tael on the selling side. The buying - selling difference is at 3 million VND/tael.

Phu Quy Gold and Gems Group listed the price of gold rings at the threshold of 169.2-172.2 million VND/tael (buying - selling), down 1.8 million VND/tael in both directions compared to a week ago. The buying - selling difference is at 3 million VND/tael.

If buying gold rings in the April 5 session and selling them in today's session (April 12), buyers at DOJI will lose 5.1 million VND/tael. Meanwhile, buyers of gold rings at Phu Quy will lose 4.8 million VND/tael.

World gold price

Closing the week's trading session, world gold prices were listed at 4,74.2 USD/ounce, up 71.2 USD compared to a week ago.

Gold price forecast

World gold prices next week are forecast to continue to fluctuate strongly in the context that the market is simultaneously affected by geopolitical risks and monetary policy expectations. After the recent recovery, the precious metal is still considered an important safe haven channel, but the short-term trend is not completely clear as investors must continuously assess new signals from the Middle East.

This development shows that gold is still in a highly sensitive state, easily increasing sharply but also potentially reversing quickly according to international information.

Kitco News' weekly gold survey shows that analysts' sentiment is slightly leaning towards the possibility of price increases. Among the 14 Wall Street experts participating in the survey, 7 people, equivalent to 50%, predict that gold prices will go up next week. 2 experts, accounting for 14%, predict that prices may fall, and 5 people, equivalent to 36%, believe that risks are in a relatively balanced state.

This result reflects the cautious optimism of experts, especially when gold still receives support from the need to prevent global instability.

The most notable factor currently is that the 21-hour round of negotiations between the US and Iran in Islamabad has closed without reaching an agreement. According to Reuters and AP, disagreements mainly revolve around Iran's nuclear program, control of the Hormuz Strait and requests related to compensation and frozen assets.

The failure of negotiations has increased doubts about the durability of the current ceasefire, thereby pushing geopolitical risks back to the center of market valuation. This is a factor that could support gold prices to rise due to strong safe-haven demand every time tensions escalate.

Mr. Adrian Day - Chairman of Adrian Day Asset Management - believes that gold is in a favorable position, because if the ceasefire is maintained, monetary factors will return to lead the market; and if conflicts re-emerge, the safe asset role of gold will become even more prominent.

Meanwhile, Mr. Colin Cieszynski - chief market strategist at SIA Wealth Management - said that gold has entered a accumulation phase after the previous strong increase, with a wide fluctuation range and it is very difficult to determine the short-term direction.