Gold price update on the morning of May 12: The market is struggling, experts are divided when predicting

Updated SJC gold price

As of 6:00 a.m., the price of SJC gold bars was listed by Saigon Jewelry Company at VND 120-122 million/tael (buy in - sell out). The difference between buying and selling prices is at 2 million VND/tael.

At the same time, the price of SJC gold bars was listed by DOJI Group at 120-122 million VND/tael (buy in - sell out). The difference between buying and selling prices is at 2 million VND/tael.

Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 120-122 million VND/tael (buy in - sell out). The difference between buying and selling prices is at 2 million VND/tael.

Phu Quy Jewelry Group listed the price of SJC gold bars at 119-122 million VND/tael (buy in - sell out). The difference between buying and selling prices is at 3 million VND/tael.

9999 round gold ring price

As of 6:00 a.m., the price of Hung Thinh Vuong 9999 round gold rings at DOJI was listed at VND 114.5-117 million/tael (buy in - sell out). The difference between buying and selling prices is at 2.5 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 117-120 million VND/tael (buy in - sell out). The difference between buying and selling is 3 million VND/tael.

Phu Quy Gold and Stone Group listed the price of gold rings at 115-118 million VND/tael (buy in - sell out). The difference between buying and selling prices is at 3 million VND/tael.

In the context of strong fluctuations in domestic gold prices, the buying-selling gap is pushed too high, increasing the risk for individual investors. Personal investors, especially those with a "surfing" mentality, need to consider carefully before putting money down.

World gold price

At 6:00 a.m., the world gold price was listed on Kitco around 3,323.3 USD/ounce.

Gold price forecast

The relatively neutral gold price movement last week appeared after the US Federal Reserve (FED) reaffirmed that it would not be in a hurry to cut interest rates, in the context of the US economy remaining stable and high inflation risks.

Although the market still expects the FED to cut interest rates this summer, some experts believe that gold's upward momentum is shifting to a state of "waiting and observing". James Stanley predicts that gold prices will hardly surpass the $3,500/ounce mark in the short term.

Naeem Aslam - Investment Director at Zaye Capital Markets - commented that the FED's interest rate cut in July was almost pre- Valued by the market, so this positive information has been partly reflected in gold prices.

Aslam believes that in the short term, the least resistant trend for gold prices is to decrease, but corrections can continue to be bought. He concluded that the long-term trend is still increasing, and gold will surpass the $3,500/ounce mark if geopolitical tensions continue to escalate.

According to analysts, the gold buying trend of central banks is likely to continue in the coming time, especially when risk factors such as US-China trade tensions and global geopolitical instability have not shown any signs of cooling down. This is an important supporting factor that helps gold prices stay strong in the highlands.

The next week's gold price survey conducted by Kitco News shows that Wall Street analysts are clearly differentiated, with the number of people predicting prices to increase, decrease and move sideways this week being the same.

Of the 15 experts participating in the survey, each scenario received 5 forecasts, accounting for 40% of each trend. This shows significant uncertainty in the forecast of analysts.

An online survey of 267 individual investors shows that the majority still believe in gold's upward prospects. 54% of participants expect prices to increase this week, 29% see prices falling, and 17% predict prices will remain flat.