Updated SJC gold price
As of 6:00 a.m., the price of SJC gold bars was listed by Saigon Jewelry Company at VND117-120 million/tael (buy - sell); increased by VND1.5 million/tael for buying and increased by VND2 million/tael for selling. The difference between buying and selling prices is at 2.5 million VND/tael.
At the same time, DOJI Group listed the price of SJC gold bars at 117-120 million VND/tael (buy - sell); increased by 1.5 million VND/tael for buying and increased by 2 million VND/tael for selling. The difference between buying and selling prices is at 2.5 million VND/tael.
Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 117-120 million VND/tael (buy - sell); increased by 1.5 million VND/tael for buying and increased by 2 million VND/tael for selling. The difference between buying and selling prices is at 2.5 million VND/tael.
9999 round gold ring price
As of 6:00 a.m. today, the price of Hung Thinh Vuong 9999 round gold rings at DOJI was listed at 115-118.5 million VND/tael (buy - sell); increased by 500,000 VND/tael for buying and increased by 1 million VND/tael for selling. The difference between buying and selling prices is at 3.5 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 116.5-1195 million VND/tael (buy - sell); an increase of 1.5 million VND/tael for both buying and selling compared to early in the morning. The difference between buying and selling prices is at 3 million VND/tael.
World gold price
As of 6:00 a.m. on April 19, the world gold price was listed at 3,327 USD/ounce.
Gold price forecast
Mr. Christopher Vecchio - Director of futures and foreign exchange contracts at Tastylive.com - said that gold will continue to benefit if the USD continues to weaken. This expert believes that although the USD has not lost its position as a global reserve currency, the unstable trade policy of US President Donald Trump has weakened the US position.
The US is withdrawing from its global leadership role (Pax Americana) to pursue a US First policy, he said. No currency replaces the USD, but we will need another reserve asset and that is gold.
Expert David Morrison - Senior Analyst at Trade Nation - said that the strong increase of 100 USD on Wednesday was the "peak of the current price increase".
He commented: In just one week, gold has increased by 13% (ie 360 USD). Therefore, it is not surprising if prices adjust slightly. The MacD index is also in the same overbought range as its peak in 2011. Although that does not mean that prices cannot continue to increase, investors should be cautious.
In a report released on Thursday, Citi Research (market research and economic analysis department of Citigroup, one of the world's largest financial groups headquartered in the US) said it had raised the gold price target for the next 3 months from 3,200 USD/ounce to 3,500 USD/ounce.
The reason for the adjustment is due to strong demand for gold from Chinese insurance companies and tax risks and weak market cash flow.
According to Citi, China's recent decision allows 10 insurance companies to allocate up to 1% of total assets to gold that can create demand of about 255 tons per year, equivalent to about 1/4 of the total gold purchases by global central banks.
Not only Citi Research, many banks and financial institutions have recently raised their forecasts for the precious metal. Analysts at UBS believe that prices will reach $3,500 by December 2025 at the latest. Last month, both UBS and Goldman Sachs raised their gold price forecasts, due to the uncertain policy environment in the US.
Meanwhile, Bank of America - the second largest bank in the US, believes that gold prices in 2025 will average about 3,063 USD/ounce, compared to the previous forecast of 2,750 USD/ounce. The banks new report also predicts gold prices will average $3,350 an ounce by 2026, compared to a previous forecast of $2,625 an ounce.
Economic data to watch next week
Wednesday: Preliminary manufacturing and service PMI, new home sales in the US
Thursday: Long-term goods orders, weekly jobless claims, US home sales
See more news related to gold prices HERE...
