Violent fluctuations, all forecast to continue increasing

On the morning of August 4, SJC Company listed the price of SJC gold bars at 78.3 million VND/tael for buying and 79.8 million VND/tael for selling, stable compared to yesterday. Compared to the end of last week, each tael of gold increased by 300,000 VND/tael.

Meanwhile, the price of 24K gold rings and jewelry of all kinds traded by businesses is around 76.15 million VND/tael for buying, 77.55 million VND/tael for selling, an increase of about 500,000 VND/tael compared to the end of last week.

The difference in buying and selling price of SJC gold bars and gold rings is maintained at a high level of about 1.5 million VND/tael.

Domestic gold prices fluctuate less than world prices.

The domestic gold price has been quite stable compared to the strong fluctuations in the world gold price. In the international market, the gold price today closed the trading week at 2,444 USD/ounce, up nearly 60 USD/ounce compared to the end of last week. However, during the week, the highest price of the precious metal reached 2,477 USD/ounce, only a few USD/ounce away from the historical peak of 2,480 USD/ounce set in June.

Gold prices have fluctuated wildly over the past week, skyrocketing and then quickly falling due to profit-taking pressure from investors. However, both analysts and experts believe that gold prices will continue to rise as supported by many factors, according to Kitco's survey on gold price trends next week.

Specifically, in a survey on Wall Street, 14 analysts participated in the response, of which 79% said that gold prices would continue to increase, only 7% said gold prices would decrease and the remaining 14% predicted that gold prices would remain stable.

The highest world gold price last week reached 2,477 USD/ounce.

Similarly, in an online survey on Wall Street with 191 investors responding, 73% of opinions predicted that gold prices will continue to increase, 15% said that gold prices will decrease and the rest predicted that the precious metal will go sideways.

Gold prices are not only expected to continue to increase due to the trend of decreasing interest rates in the US, but are also supported by the weakening USD, the demand for gold by central banks of countries, especially the demand for safe havens in the face of increasing geopolitical tensions in the Middle East...

Currently, the world gold price converted according to the listed exchange rate is about 74.8 million VND/tael, about 2.7 million VND lower than gold rings and about 5 million VND/tael lower than gold bars. The world gold price increased sharply while the domestic gold price increased slightly, helping to narrow the gap.

Source: https://nld.com.vn/gia-vang-hom-nay-4-8-bien-dong-du-doi-dong-loat-du-bao-tang-tiep-196240804091515804.htm