The domestic gold price today, October 7, is being traded at the following level:
At the opening of this week's trading session, the domestic gold bar price was listed by Doji Jewelry Group at: 41.75 million VND/tael (buy) and 42.25 million VND/tael (sell), down 20,000 VND in the buying direction.
Saigon Jewelry Company listed the price of SJC gold at 41.75 million VND/tael (buy) and 42.07 million VND/tael (sell) in Hanoi. SJC gold bar price in Ho Chi Minh City is listed at 42.05 million VND/tael (selling).
The world gold price today, October 7, immediately traded at 1,508.14 USD/ khoz, up 2.64 USD/ khoz for buying and 1,508.52 USD/ khoz, up 2.62 USD/ khoz for selling compared to the morning session on October 6.
Although the US good jobs report is affected by the increase in gold prices at the end of the week, many analysts still expect gold to recover strongly, because the US jobs report does not change the possibility of interest rate cuts from the Federal Reserve at the end of this month.
Fawad Razaqzada, technical analyst at City Index, said that employment data is not a game-changer. The Federal Reserve will still cut interest rates this month, which will weaken the USD and push gold prices higher.
According to Kitco News' weekly survey, traders and analysts on Wall Street and Mian Street all predict gold prices will increase sharply this week (October 7-12).
In addition, 17 market experts participated in the Wall Street survey. A total of 12 people, equivalent to 71%, predict gold prices will increase. The two, or 12%, are neutral on gold next week. And three, or 18% say prices will move lower.
679 respondents participated in the online poll on Main Street. A total of 446 people, equivalent to 65%, predict gold prices will increase. Another 145 people, or 21%, predict gold will fall. The remaining 88, or 13%, predict a flat market.
