Sudden increase in shock, can it return to record level?

Photo: Phan Anh

SJC gold bar price

As of 9:30 a.m., DOJI Group listed SJC gold price at VND88.4-90 million/tael (buy - sell). The difference between buying and selling price is VND1.6 million/tael.

Compared to the opening of yesterday's trading session, SJC gold price at DOJI increased by 800,000 VND/tael for buying and 700,000 VND/tael for selling.

Chart: Jiang Wei

The price of SJC gold at Saigon Jewelry Company - SJC is listed at 88.4-90.4 million VND/tael (buy - sell). The difference between the buying and selling price of SJC gold is at 2 million VND/tael.

Compared to the opening of yesterday's trading session, SJC gold price at Saigon Jewelry Company - SJC increased by 800,000 VND/tael for both buying and selling.

Meanwhile, Bao Tin Minh Chau listed the price of SJC gold at 88.45-90 million VND/tael (buy - sell). The difference between the buying and selling price of SJC gold is at 1.55 million VND/tael.

Compared to the opening of yesterday's trading session, SJC gold price at Bao Tin Minh Chau increased by 650,000 VND/tael for buying and increased by 600,000 VND/tael for selling.

The difference between buying and selling prices of gold remains high, which puts investors at risk of losing money when investing in the short term.

9999 gold ring price

As of 9:00 a.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 75.60-77.00 million VND/tael (buy - sell).

Compared to the opening of yesterday's trading session, the price of 9999 gold rings at DOJI increased by VND 250,000/tael for buying and VND 200,000/tael for selling.

Saigon Jewelry Company listed the price of gold rings at 75-76.6 million VND/tael (buy - sell).

Compared to the opening of yesterday's trading session, the price of 9999 gold rings at Saigon Jewelry Company increased by VND 200,000/tael for both buying and selling.

Bao Tin Minh Chau listed the price of gold rings at 75.58-76.98 million VND/tael (buy - sell).

Compared to the opening of yesterday's trading session, the price of 9999 gold rings at Bao Tin Minh Chau increased by 240,000 VND/tael for buying and increased by 190,000 VND/tael for selling.

World gold price

As of 9:15 a.m., the world gold price listed on Kitco was at 2,352 USD/ounce, up 12.7 USD/ounce compared to the opening of the previous trading session.

World gold price developments. Chart: Thuy Linh

Gold Price Forecast

World gold prices increased slightly in the context of the USD index tending to decrease. Recorded at 9:20 a.m. on May 27, the US Dollar Index measuring the fluctuations of the greenback against 6 key currencies was at 104.380 points (down 0.13%).

The precious metal saw a sharp downside correction last week, but prices are recovering this week, according to Kim Cramer Larsson, technical analyst at Saxo Bank.

If gold breaks above $2,385 an ounce, the previous uptrend could resume and potentially hit a target of $2,500 an ounce, Larsson said.

World gold prices rose as investors expected an important inflation report released later this week to change the US Federal Reserve's stance on cutting interest rates.

According to the minutes of the latest meeting, FED officials indicated that it may take longer than expected to bring inflation down to 2%.

In the current environment, the gold market will be sensitive to inflation data, said FXTM market analyst Lukman Otunuga. Accordingly, if the report shows that price pressures are decreasing, it could revive hopes of a Fed rate cut and boost gold prices.

On the other hand, if the PCE is higher than the market forecast, it will deal another blow to the Fed's interest rate cut expectations and send gold prices further down. The expert said that the decline could take prices to the support level of $ 2,300 / ounce or lower.

Investors are now waiting for the personal consumption expenditures (PCE) price index, the US central bank's preferred inflation gauge, due to be released on Friday for further clues on the Fed's future policy direction.

Traders are currently pricing in a 61% chance of a rate cut in November, according to the CME FedWatch tool. Staunovo expects gold prices to remain volatile and the declines will be limited. As for the medium-term direction of gold, he remains optimistic that gold will test new record highs by the end of the year.

Source: https://laodong.vn/tien-te-dau-tu/gia-vang-hom-nay-285-dot-ngot-tang-soc-co-the-quay-lai-nguong-ky-luc-1345628.ldo