Gold price today 24.5: Loss of 5 million VND/tael after a week

SJC gold bar price

Closing the week's trading session, Saigon SJC Jewelry Company listed SJC gold price at 158.5-161.5 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.

Compared to the closing session of last week (May 17), the price of SJC gold bars at Saigon SJC Jewelry Company decreased by 2 million VND/tael in both buying and selling directions.

Meanwhile, DOJI listed SJC gold price at 158.5-161.5 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.

Compared to the closing session of last week (May 17), the price of SJC gold bars at DOJI decreased by 2 million VND/tael in both buying and selling directions.

If buying SJC gold bars on May 17 and selling them on today's session (May 24), buyers at Saigon Jewelry Company SJC and DOJI will both lose 5 million VND/tael.

9999 gold ring price

At the same time, DOJI Group listed the price of gold rings at 158.5-161.5 million VND/tael (buying - selling), down 2 million VND/tael in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.

Phu Quy Gold and Gems Group listed the price of gold rings at 158.5-161.5 million VND/tael (buying - selling), down 2 million VND/tael in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.

If buying gold rings on May 17 and selling them on today's session (May 24), buyers at DOJI and Phu Quy will both lose 5 million VND/tael.

World gold price

Closing the weekly trading session, world gold prices were listed at 4,508.5 USD/ounce, down 30.7 USD compared to a week ago.

Gold price forecast

Wall Street experts continue to strongly lean towards the scenario of gold prices falling next week as the precious metal has not been able to regain important support levels, in the context of high interest rate pressure and geopolitical instability still covering the market.

Kitco News' latest weekly gold survey shows that pessimistic sentiment still prevails on Wall Street. Among the 13 experts surveyed, up to 8 people, equivalent to 62%, predict gold prices will decrease next week. Only 15% predict gold prices will increase, while the rest believe the market will move sideways.

Mr. Marc Chandler - Managing Director of Bannockburn Global Forex - said that gold prices have broken through the support zone of 4,500 USD/ounce and most of the trading time only fluctuated around this area. According to experts, gold has not yet shown strong enough signals to return to an upward trend.

Mr. Marc Chandler said that to regain the upward momentum, gold prices need to surpass the 4,600 USD/ounce mark. However, the upward momentum of bond yields is significantly weakening the attractiveness of gold.

This expert also warned that prolonged conflict in the Middle East could increase the risk of some countries selling gold to provide financial support, thereby creating further downward pressure on the precious metals market.

Sharing the same view, Mr. Rich Checkan - Chairman and CEO of Asset Strategies International - predicts that gold prices may continue to fall as tensions between the US and Iran show no signs of cooling down. According to him, the nuclear issue continues to be a major bottleneck in relations between the two sides.

In addition, US inflation data continues to be high, weakening expectations of interest rate cuts. The market even began to worry about the possibility that the US Federal Reserve (Fed) will maintain a tight monetary policy longer than expected.

While Wall Street experts lean towards a downward trend, individual investors still maintain a certain optimism. Kitco's online survey results show that 56% of retail investors predict gold prices will increase next week, while 22% believe prices will decrease and 22% predict the market will move sideways.