Gold price at the close of the session on August 23: Profits eroded, buyers make small profits even though prices skyrocket

SJC gold bar price

Closing the week's trading session, Saigon SJC Jewelry Company listed SJC gold prices at the threshold of 144.6-147.6 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.

Compared to the closing session of last week's trading (August 16), SJC gold bar price at Saigon SJC Jewelry Company increased by 3.6 million VND/tael in both buying and selling directions.

Meanwhile, DOJI listed SJC gold price at the threshold of 144.6-147.6 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.

Compared to the closing session of last week (August 16), the price of SJC gold bars at DOJI increased by 3.6 million VND/tael in both buying and selling directions.

If buying SJC gold bars on August 16 and selling them on today's session (August 23), buyers at Saigon Jewelry Company SJC and DOJI both make a profit of 600,000 VND/tael.

9999 gold ring price

At the same time, DOJI Group listed the price of gold rings at the threshold of 145.5-149.5 million VND/tael (buying - selling), an increase of 4.5 million VND/tael on the buying side and an increase of 5.5 million VND/tael on the selling side. The buying - selling difference is at 4 million VND/tael.

Phu Quy Jewelry Group listed the price of gold rings at the threshold of 144.6-147.6 million VND/tael (buying - selling), an increase of 3.6 million VND/tael in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.

If buying gold rings on August 16th and selling them on today's session (August 23rd), buyers at DOJI will make a profit of 1.5 million VND/tael, while buyers at Phu Quy will make a profit of 600,000 VND/tael.

World gold price

Closing the week's trading session, world gold prices were listed at 4,602.4 USD/ounce, up 226.8 USD compared to a week ago.

Gold price forecast

After a strong breakthrough trading week, the short-term gold price outlook continues to receive many positive signals. Market sentiment is leaning towards the scenario of precious metals maintaining their upward momentum as most analysts and individual investors are expecting gold to continue to rise next week.

The latest survey results with 11 experts on Wall Street by a precious metals website show that 8 people predict gold prices will increase, accounting for 73% of the total opinions. The remaining three experts believe that gold may enter a accumulation phase after the recent strong increase. Notably, there are no opinions that gold prices will decrease in the next trading week.

In the group of individual investors, optimistic sentiment also remained at a high level. In an online survey with 211 participants, 164 investors, equivalent to 78%, expected gold prices to continue to increase. Meanwhile, 25 people predicted prices would decrease and 22 people thought the market would move sideways.

In the coming week, investors will focus on monitoring a series of US economic data such as consumer confidence index, new home sales, core PCE inflation index, Q2 GDP growth and jobs report. In particular, new signals about interest rate orientation from the Fed will be important factors determining the next trend of gold prices.