Gold price update at the closing session on April 17: Turnaround

SJC gold bar price

As of 7:25 PM, SJC gold bar prices were listed by DOJI at 167.5-171 million VND/tael (buying - selling), down 200,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3.5 million VND/tael.

SJC gold bar price was listed by Bao Tin Minh Chau at 167.5-171 million VND/tael (buying - selling), down 200,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3.5 million VND/tael.

Phu Quy Jewelry Group listed SJC gold bar prices at 167.5-171 million VND/tael (buying - selling), down 200,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3.5 million VND/tael.

9999 gold ring price

As of 7:25 PM, DOJI listed the price of gold rings at 167.5-170.5 million VND/tael (buying - selling), down 200,000 VND/tael on the buying side and down 700,000 VND/tael on the selling side. The difference between buying and selling prices is at 3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 167.5-170.5 million VND/tael (buying - selling), unchanged in the buying direction and down 200,000 VND/tael in the selling direction. The difference between buying and selling prices is at 3 million VND/tael.

Phu Quy Gold and Gems Group listed the price of gold rings at 167.5-170.5 million VND/tael (buying - selling), unchanged in the buying direction and down 200,000 VND/tael in the selling direction. The difference between buying and selling prices is at 3 million VND/tael.

Currently, the buying - selling price difference of gold is at a very high level, around 3 million VND/tael, posing a risk of losses for investors.

World gold price

At 7:25 PM, world gold prices were listed around the threshold of 4,805.55 USD/ounce, up 3.7 USD compared to the previous day.

Gold price forecast

World gold prices increased slightly in the context of investors cautiously assessing geopolitical signals and trends of major financial markets. In the latest trading session, gold and silver both recorded increases as technical buying power returned, although the fluctuation range has narrowed significantly compared to the previous period.

This development shows that market sentiment is gradually stabilizing as investors believe that tensions in the Middle East may cool down in the near future.

A noteworthy supporting factor for gold today is the weakening USD, while the yield of 10-year US government bonds remains around 4.3%. In addition, the decrease in crude oil prices also partly reflects the expectation that the risk of energy supply disruption has not escalated further. These signals make cash flow on the gold market no longer too defensive, but still enough to keep precious metal prices at a high level.

However, physical gold demand in some major consumption markets in Asia is showing signs of differentiation. In India, domestic prices in the highlands have slowed down retail buying power right before the Akshaya Tritiya holiday - one of the biggest gold buying seasons of the year.

A jeweler in Bengaluru said that people usually take advantage of ordering early before the festival, but this year the buying psychology is quite cautious due to the sharp increase in gold prices.

Meanwhile, in China, the added price for physical gold has not fluctuated much. Mr. Bernard Sin - Regional Director of Greater China of MKS PAMP - said that demand in this market is still weak, causing the added fee to be only at a low level.

According to this expert, the support for gold currently mainly comes from the buying activity of the central bank of China, but the pace of supplementing reserves usually slows down in the second quarter, so the price increase momentum may be somewhat limited.

Technically, the gold market is still maintaining the advantage of increasing in the short term, but has not formed a strong enough momentum to break through decisively. If the important resistance zone is overcome, gold prices may expand their upward momentum. Conversely, if buying power weakens, the precious metal may completely be under adjustment pressure after the recent hot period of increase.