Sudden decline, is it worth worrying?

Gold prices are receiving fairly positive forecasts from experts. (Illustration photo: Phan Anh)

SJC gold bar price

As of 9 AM, the price of SJC gold bars listed by DOJI Group was 78-80 million VND/ounce (buying price - selling price).

Compared to the beginning of the previous trading session, the price of gold at DOJI remained unchanged for both buying and selling.

The difference between the buying and selling price of SJC gold at DOJI Group is around 2 million VND/ounce.

Gold price update this morning. Source: Rong Viet Online Services Joint Stock Company (VDOS).

SJC gold bar prices recorded at DOJI Group in recent trading sessions. Unit: Million VND/ounce. Source: Rong Viet Online Services Joint Stock Company (VDOS).

Meanwhile, Saigon Jewelry Company (SJC) listed the price of SJC gold at 78-80 VND/ounce (buying price - selling price).

Compared to the beginning of the previous trading session, the price of gold at Saigon Jewelry Company (SJC) remained unchanged for both buying and selling.

The difference between the buying and selling price of SJC gold at Saigon Jewelry Company (SJC) is around 2 million VND per tael.

Price of 9999 gold rings

This morning, the price of 9999 Hung Thinh Vuong gold rings at DOJI was listed at 76.90-78.20 million VND/ounce (buying price - selling price); a decrease of 100,000 VND/ounce in the buying price and a decrease of 200,000 VND/ounce compared to the beginning of the previous trading session.

Saigon Jewelry Company listed the price of gold rings at 76.80 - 78.20 million VND/ounce (buying price - selling price); a decrease of 200,000 VND/ounce in both buying and selling prices compared to the beginning of the previous trading session.

Bao Tin Minh Chau listed the price of gold rings at 76.93-78.23 million VND/ounce (buying price - selling price); a decrease of 150,000 VND/ounce in both buying and selling prices compared to the beginning of the previous trading session.

In recent trading sessions, the price of gold rings has often fluctuated in the same direction as the global market. Investors can refer to the global market and expert opinions before making investment decisions.

World gold prices

As of 9 AM, the world gold price listed on Kitco was at $2,498.7 per ounce, down $9 per ounce compared to the beginning of the previous trading session.

Gold price forecast

Global gold prices rose amid a sideways movement in the US dollar index. At 9:00 AM on August 19th, the US Dollar Index, which measures the fluctuations of the greenback against six major currencies, stood at 102.310 points (down 0.49%).

Kitco News' latest weekly gold survey shows that a majority of industry experts and investors believe that gold prices could surpass this week's all-time high.

Nine analysts participated in Kitco News' gold survey, and the majority still see potential for prices to surpass all-time highs.

Five experts expect gold prices to rise, while three analysts predict gold will remain stable this week. Only one forecasts a decline in the price of the precious metal.

219 votes were cast in Kitco's online poll. 130 traders expect gold prices to rise this week. 44 others expect the precious metal to fall. Meanwhile, 45 respondents believe prices will trend sideways this week.

Kitco's gold price forecast for this week.

Experts believe that the driving force behind the recent rise in gold prices is the strong demand for safe haven assets amid increasing political and economic concerns.

Mark Leibovit, publisher of VR Metals/Resource Letter, believes there is no reason to doubt that precious metals could rise this week.

Michael Moor, founder of Moor Analytics, sees potential for further price increases if gold can hold above $2,500 per ounce. Kitco's senior analyst, Jim Wyckoff, shares this view, seeing the technical picture as supporting further price gains this week.

Bob Haberkorn, a senior commodities broker at RJO Futures, believes that the price of gold will reach $2,600 per ounce when the US Federal Reserve (FED) cuts interest rates. However, in the short term, the price of this precious metal will remain stable or decline.

According to Haberkorn, the market may have prematurely anticipated the Fed's 50-basis-point cut. He believes the US central bank may not rush into such a cut at its upcoming meeting because, although inflation has decreased slightly, it remains higher than the Fed's target.

Haberkorn asserted that the gold market is in an uptrend. However, the recently broken $2,500/ounce level is a high, and it will be difficult to attract new buyers to the market at such a high level.

Meanwhile, Anuj Gupta, Head of Commodities and Currencies at HDFC Securities, believes that the upward trend in gold prices remains intact and the direction of the precious metal will depend on the Fed's policy direction.

He believes that Federal Reserve Chairman Jerome Powell's remarks at the Jackson Hole Symposium next week will provide a clearer picture of the US central bank's policy path.

Source: https://laodong.vn/tien-te-dau-tu/gia-vang-hom-nay-198-dot-ngot-sut-giam-co-dang-lo-1381574.ldo