Gold price update at the closing session 4: 4: Cautious experts

SJC gold bar price

As of 7:30 PM, SJC gold bar prices were listed by Bao Tin Minh Chau at 171-174.5 million VND/tael (buying - selling), unchanged 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 171-174.5 million VND/tael (buying - selling), unchanged 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 7:00 PM, Bao Tin Minh Chau listed the price of gold rings at 169.5-172.5 million VND/tael (buying - selling), unchanged in both buying and selling directions. The difference between buying and selling prices is at 3.5 million VND/tael.

Phu Quy Gold and Gems Group listed the price of gold rings at 171-174 million VND/tael (buying - selling), unchanged in both buying and selling directions. 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 7:30 PM, world gold prices were listed around the threshold of 4,676 USD/ounce, unchanged compared to the previous day.

Gold price forecast

On the international market, gold prices are forecast to continue to fluctuate strongly in the short term as investors simultaneously monitor geopolitical developments in the Middle East and a series of important US economic data. Kitco's weekly gold survey results show that sentiment on Wall Street is quite cautious, while individual investors are somewhat more optimistic after the recent recovery of precious metals.

Among the 15 experts participating in the survey, 53% believe that gold prices may go sideways or stand aside to observe next week; 27% lean towards the possibility of increasing and 20% predict a decrease. In the group of individual investors, 59% expect gold prices to rise in the following week.

Analysts believe that gold is being interspersedly affected by safe-haven sentiment and short-term profit-taking pressure. Conflicting signals related to Iranian tensions have caused cash flow in the market to change very quickly, causing gold prices to reverse sharply in a short time.

In addition, data such as jobs, inflation, growth, durable goods orders and the latest minutes of the US Federal Reserve (FED) meeting will be factors that could change interest rate expectations, thereby directly impacting gold's developments.

Mr. Adam Button - Head of Currency Strategy at Forexlive. com - said that although gold still faces short-term resistance, the support for the precious metal in the long term is still strengthening.

According to him, whenever the market sees a clearer conciliatory prospect, demand for gold may return very quickly. In terms of caution, the analysis group of CPM Group recommends that investors should temporarily observe, in the context that price fluctuations are still high and short-term risks have not decreased significantly.

This group believes that gold may fluctuate in a wide range from 4,100-4,850 USD/ounce before forming a clearer trend.

In general, the main trend of gold is still not really stable in the short term. However, in the context that geopolitical instability has not completely subsided and the expectation of monetary policy easing is still present, gold is still considered a noteworthy shelter channel in the medium and long term.