SJC gold bar price
At the end of the trading session of the week, DOJI Group listed the price of SJC gold at 119.3-121.3 million VND/tael (buy in - sell out).
After a week, the price of SJC gold bars at DOJI increased by 300,000 VND/tael for both buying and selling. The difference between the buying and selling prices of SJC gold at DOJI Group is at 2 million VND/tael.
Meanwhile, Saigon Jewelry Company SJC listed the price of SJC gold at 119.3-121.3 million VND/tael (buy in - sell out).
After a week, the price of SJC gold bars at Saigon Jewelry Company SJC increased by 300,000 VND/tael for both buying and selling. The difference between the buying and selling prices of SJC gold at Saigon Jewelry Company SJC is at 2 million VND/tael.
9999 gold ring price
This morning, the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 114-116.5 million VND/tael (buy in - sell out); unchanged from a week ago. The difference between buying and selling is at 2.5 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 116.6-119 7.5 million VND/tael (buy - sell); down 400,000 VND/tael for buying and down 300,000 VND/tael for selling compared to a week ago. The difference between buying and selling is at 3.1 million VND/tael.
Domestic gold prices may face strong downward pressure as the market reopens after the holiday, in the context of world gold prices having just experienced a week of decline.
World gold price
At 6:00 a.m., the world gold price listed on Kitco was around 3,239.6 USD/ounce, down 78.7 USD/ounce after a week.
Gold price forecast
Many analysts believe that gold prices may correct down after a series of strong increases, due to profit-taking pressure and optimistic signals from the US labor market. However, many investors believe that gold is still supported in the long term due to concerns about economic and geopolitical instability.
Adrian Day - Chairman of Adrian Day Asset Management - predicted that gold will adjust in the short term due to pressure from the possibility of concession in trade tensions between the US - China and concerns about economic recession. Gold has fallen more than 7% from its high less than two weeks ago, he said.
Fawad Razaqzada - an analyst at financial institution StoneX Bullion - believes that gold prices could fall to $3,000/ounce if optimism about trade deals continue to persist.
Meanwhile, Rich Checkan - Chairman of Asset Strategies International - said that the profit-taking trend has ended and gold prices will return to increase thanks to the momentum from a weak USD and the still-existent instability.
This week, there are 18 analysts participating in the Kitco News survey. Of these, 9 people (50%) predict gold prices will continue to fall, 5 people (28%) expect an increase and 4 people (22%) expect prices to remain flat.
An online survey of 273 individual investors shows that the majority are still leaning towards an uptrend. 143 people (52%) expect gold prices to rise, 79 (29%) expect prices to fall, and 51 people (19%) expect prices to move sideways for the week.
Notable economic data schedule of the week
Monday: US Services PMI (ISM).
Wednesday: Federal Reserve monetary policy decision.
Thursday: Bank of England interest rate decision; US weekly jobless claims.
Note: Gold price data is compared to the same time of the previous trading session.
See more news related to gold prices HERE...
