Gold price update at the closing session on April 26: Domestic gold buyers suffer heavy losses

SJC gold bar price

Closing the week's trading session, Saigon SJC Jewelry Company listed SJC gold price at the threshold of 166.3 - 168.8 million VND/tael (buying - selling). The buying - selling difference is at 2.5 million VND/tael.

Compared to the closing session of last week (April 19), the price of SJC gold bars at Saigon SJC Jewelry Company decreased by 2.2 million VND/tael on the buying side and decreased by 3.2 million VND/tael on the selling side.

Meanwhile, DOJI listed SJC gold price at the threshold of 166.3 - 168.8 million VND/tael (buying - selling). The buying - selling difference is at 2.5 million VND/tael.

Compared to the closing session of last week (April 19), SJC gold bar price at DOJI decreased by 2.2 million VND/tael on the buying side and decreased by 3.2 million VND/tael on the selling side.

If buying SJC gold bars on April 19 and selling them on today's session (April 26), buyers at Saigon SJC and DOJI Jewelry Company both lost 5.7 million VND/tael.

9999 gold ring price

At the same time, DOJI Group listed the price of gold rings at the threshold of 165.8-168.8 million VND/tael (buying - selling), down 2.7 million VND/tael in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.

Phu Quy Jewelry Group listed the price of gold rings at 165.8-168.8 million VND/tael (buying - selling), down 2.7 million VND/tael in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.

If buying gold rings on April 19 and selling them on today's session (April 26), buyers at DOJI and Phu Quy will lose 5.7 million VND/tael.

World gold price

Closing the weekly trading session, world gold prices were listed at 4,708.8 USD/ounce, down sharply by 120.6 USD compared to a week ago.

Gold price forecast

Analysts believe that gold prices next week may continue to fluctuate strongly as the market is simultaneously affected by the USD, bond yields, geopolitical developments and monetary policy expectations of major central banks.

In the past week, world gold prices had a period of strong selling pressure as the USD recovered, bond yields increased, and investors worried that persistent inflation could cause the interest rate level to remain high longer. This reduced the attractiveness of gold - a non-interest-bearing asset. However, bottom-fishing demand has appeared around the support zone of 4,650-4,700 USD/ounce, helping the precious metal recover slightly at the end of the week.

Kitco News' weekly gold survey shows that market sentiment is quite differentiated. Among 16 Wall Street experts participating in the survey, 5 predicted gold prices would increase, 5 thought prices would decrease, while 6 predicted prices would move sideways next week. The group of individual investors also had a similar view when the number of opinions predicting increase, decrease and move sideways did not differ much.

Mr. Adrian Day - Chairman of Adrian Day Asset Management - said that gold prices are likely to continue to fluctuate as the situation related to Iran has not been clearly resolved. According to this expert, the market may have seen a bottom after a tense phase, but to set a new peak, gold needs more supporting factors from monetary and fiscal concerns.

In a more cautious direction, Mr. Alex Kuptsikevich - senior analyst at FxPro - said that pressure on gold is still present after prices failed to maintain a short-term upward trend. According to him, if central banks send tougher signals on monetary policy, gold may face further downward pressure, even retreating to the 4,500-4,400 USD/ounce range.

Next week, the market will monitor a series of policy decisions from the US Federal Reserve (FED), the European Central Bank, the Bank of England, the Bank of Canada and the Bank of Japan. In addition, data such as GDP, PCE, consumer confidence and PMI of manufacturing in the US may also create significant fluctuations for gold prices.

Technically, the 4,650-4,700 USD/ounce zone is considered a near support area. If this zone is lost, adjustment pressure may increase. Conversely, if it surpasses the resistance zone of 4,880 USD/ounce, gold prices have a better chance of recovery.