ANTD.VN - Gold prices continue to face profit-taking pressure and decline in the world market, accordingly, domestic gold prices also adjusted in the first trading session of the week.
Last week, domestic gold prices had their first week of decline in March with SJC gold down about 3 VND/tael for the whole week and 300 gold down by 9999 million VND/tael. The decline in domestic gold prices is mainly due to the influence of world gold after the release of US inflation data was higher than expected, making expectations for an early interest rate reduction increasingly dim.
Entering the first trading session of the week, the precious metals market outlook is still not more positive.
Saigon Jewelry Company (SJC) listed the buying and selling price of SJC gold at the beginning of the week at 79,50 - 81,50 million VND/tael. Compared to last weekend, the price of this gold brand increased by 300 VND per tael on the buying side but decreased by 200 VND per tael on the selling side, thereby narrowing the buying-selling difference to 2 million VND/tael. .
Bao Tin Minh Chau this morning also reduced the price of SJC gold with a slight decrease of 50 VND/tael purchased and a decrease of 100 VND/tael sold, listed at 79,55 - 81,35 million VND/tael; Phu Quy reduced by 100 thousand VND/tael in both directions to 79,50 - 81,40 million VND/tael...
PNJ had a deeper decrease of 300 thousand VND per tael, listing the SJC gold trading price at the beginning of the week at 79,40 - 81,40 million VND/tael.
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Gold prices remain under pressure from high US inflation data |
Meanwhile at DOJI Group, gold bars this morning remained unchanged compared to last week's closing price, trading at a price of 79,40 - 81,40 million VND/tael.
For 9999 gold, the decrease at the beginning of this morning was about 250 thousand VND per tael.
Accordingly, SJC's 9999 gold ring is listed at 67,35 - 68,55 million VND/tael; Bao Tin Minh Chau plain round ring 67,92 - 69,12 million VND/tael; DOJI Hung Thinh Vuong ring 9999 67,90– 69,10 million VND/tael…
Around the world, gold prices opened in Asia at the beginning of the week in red. Spot gold is trading around 2.152,5 USD/ounce, down slightly by 5 USD compared to last week.
The precious metals market is continuing to face profit-taking pressure as investors are disappointed with US inflation data. Most experts predict that selling pressure will continue into this week, so precious metals will still correct further.
However, there are also some opinions that a further decrease in gold prices will stimulate bottom-fishing demand, so gold prices may also reverse next week.
Kitco News's latest weekly survey results show that out of 11 analysts on Wall Street, up to 5 analysts, accounting for 46%, predict precious metal prices will decrease next week. While three experts, or 3%, expect to see gold prices rise, and a similar proportion expect gold to trade in a narrow range.
Meanwhile, in 194 online surveys on Main Street, optimism still prevails, with 56% expecting gold to increase next week; 29% predict the price will decrease and the remaining 15% have a neutral view on gold's short-term prospects.
