Gold price update morning of February 8th: Bright prospects, possibility of increase

Khương Duy |

Gold price update morning of February 8th: World gold next week receives positive forecasts from Wall Street experts.

SJC gold bar price

As of 6:00 AM, SJC gold bar prices were listed by DOJI Group at 176.3-179.3 million VND/tael (buying - selling); an increase of 2.8 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

SJC gold bar price was listed by Bao Tin Minh Chau at the threshold of 176.3-179.3 million VND/tael (buying - selling); an increase of 2.8 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

Diễn biến giá vàng SJC những phiên giao dịch gần đây. Biểu đồ: Khương Duy
SJC gold price movements in recent trading sessions. Chart: Khuong Duy

Phu Quy Jewelry Group listed SJC gold bar prices at 176.3-179.3 million VND/tael (buying - selling); an increase of 2.8 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

Giá vàng miếng SJC tại một số đơn vị kinh doanh. Đơn vị: đồng/lượng. Bảng: Khương Duy
SJC gold bar price at some business units. Unit: VND/tael. Table: Khuong Duy

9999 gold ring price

As of 6:00 AM, DOJI Group listed the price of gold rings at 176-179 million VND/tael (buying - selling); an increase of 3 million VND/tael in both directions. The buying - selling difference is at 3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 176.3-179.3 million VND/tael (buying - selling), an increase of 2.8 million VND/tael in both directions. The buying - selling difference is at 3 million VND/tael.

Diễn biến giá vàng nhẫn những phiên giao dịch gần đây. Biểu đồ: Khương Duy
Gold ring price movements in recent trading sessions. Chart: Khuong Duy

Phu Quy Jewelry Group listed the price of gold rings at 176-179 million VND/tael (buying - selling), an increase of 3 million VND/tael in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.

Giá vàng nhẫn trơn tại một số đơn vị kinh doanh. Đơn vị: đồng/lượng. Bảng: Khương Duy
Price of plain gold rings at some business units. Unit: VND/tael. Table: Khuong Duy

World gold price

At 6:00 AM, world gold prices were listed around the threshold of 4,966 USD/ounce; up 68.6 USD compared to the previous day.

Diễn biến giá vàng thế giới những phiên giao dịch gần đây. Biểu đồ: Khương Duy
Developments in world gold prices in recent trading sessions. Chart: Khuong Duy

Gold price forecast

After a period of strong fluctuations at the end of January, world gold prices are entering a more cautious state as opposite pulling forces coexist. The long-term upward momentum has not been broken, but the market needs more clear momentum to conquer important psychological price levels again.

The latest weekly gold survey with Wall Street experts shows that most analysts have regained confidence in the short-term strength of gold prices. While individual investors still maintain a majority of optimistic views, although their sentiment is still affected by losses in the previous week.

Dự báo của chuyên gia Phố Wall và nhà đầu tư cá nhân về giá vàng tuần tới. Bảng: Khương Duy
Forecasts from Wall Street experts and individual investors on gold prices next week. Table: Khuong Duy

This week, 18 experts participated in Kitco News' Gold Survey. The results showed that Wall Street clearly leaned towards a positive scenario after gold prices recovered strongly.

12 experts, equivalent to 67%, predict that gold prices will return above the 5,000 USD/ounce mark next week. Only 2 people, accounting for 11%, believe that gold prices will fall. The remaining 4 analysts, equivalent to 22%, assess the risk of increasing - decreasing at a fairly balanced level in the short term.

Meanwhile, Kitco's online poll attracted 329 votes. Of which, 210 small investors, accounting for 64%, expect gold prices to continue to increase next week.

62 people, equivalent to 19%, predict gold prices will decrease, while the remaining 57 investors (17%) believe that gold prices will remain flat in the upcoming trading week.

Notable economic calendar for next week

Elections in Japan.

US Retail Sales.

US non-farm payroll.

US Weekly Unemployment Benefit Application; Current House Sales in the US.

US Consumer Price Index (CPI).

Gold price data is compared to the previous day.

See more news related to gold prices HERE...

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