Gold price update closing session 24. 4: World slightly decreased, domestic sharply decreased

SJC gold bar price

As of 5:50 PM, SJC gold bar prices were listed by DOJI at 165.5-168 million VND/tael (buying - selling), down 1.2 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 2.5 million VND/tael.

SJC gold bar price was listed by Bao Tin Minh Chau at the threshold of 166.2-168.7 million VND/tael (buying - selling), down 500,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 2.5 million VND/tael.

Phu Quy Jewelry Group listed SJC gold bar prices at the threshold of 166.2-168.7 million VND/tael (buying - selling), down 500,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 2.5 million VND/tael.

9999 gold ring price

As of 5:50 PM, DOJI listed the price of gold rings at 165-168 million VND/tael (buying - selling), down 1.2 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at the threshold of 165.7-168.7 million VND/tael (buying - selling), down 500,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

Phu Quy Jewelry Group listed the price of gold rings at the threshold of 165.7-168.7 million VND/tael (buying - selling), down 500,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 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 5:50 PM, world gold prices were listed around the threshold of .677.5 USD/ounce, down 13.5 USD compared to the previous day.

Gold price forecast

World gold prices are showing signs of losing momentum to increase in the short term, as the market is negatively affected by geopolitical tensions, sharp oil prices and interest rate expectations in the US.

After a long streak of gains, the precious metal is heading for its first week-long decline in 5 weeks, amid investors being more cautious in the face of tense developments between the US and Iran.

Brent oil prices rose sharply during the week, maintaining above the high threshold, raising concerns that inflation may return. Usually, gold is seen as an inflation hedging tool. However, if energy prices continue to escalate, the US Federal Reserve (Fed) may have to maintain a high interest rate level for a longer time. This makes yield assets more attractive, thereby putting pressure on gold - a non-performing asset.

Expert Norman believes that the reality is that gold is having difficulty creating upward momentum. According to him, when prices cannot break through to higher levels, the market tends to retest the support levels below.

The USD and US government bond yields are also unfavorable factors for gold. The greenback tended to recover in the week, while US 10-year term bond yields increased, reducing the attractiveness of precious metals in the international market.

However, the long-term outlook for gold is still positively assessed by many experts. Mr. Robert Minter - ETF Strategy Director at abrdn - said that gold adjustments can be seen as accumulation opportunities for long-term investors. According to him, gold is still an important defensive asset in the portfolio, especially when risks in the global financial market have not been fully reflected.

Robert Minter also emphasized that the gold buying demand of central banks, including China, continues to be an important supporting factor. In the context of prolonged public debt, energy risks and supply chain disruptions, gold still has a basis to maintain its safe haven role.