Gold price today May 11: Increased by 2.2 million VND in a week but buyers still lose

The price of gold bars at Saigon Jewelry Company - SJC is currently being bought at 120 million VND/tael, sold at 122 million VND, an increase of 2.2 million VND compared to the beginning of the week.

Meanwhile, the price of 4-9 gold rings at SJC Company also increased by 2 million VND, up to 114.5 million VND for buying and 117 million VND for selling. Bao Tin Minh Chau alone bought at 117 million VND and sold at 120 million VND, the highest price in the market. The difference in buying and selling prices of gold rings at Bao Tin Minh Chau remained at 3 million VND/tael as the whole week. Thus, although the price of gold rings increased sharply by 2 million VND/tael, buyers at the beginning of the week still suffered a loss of 1 million VND/tael.

Gold prices rise but buyers from the beginning of the week still suffer losses

The world gold price at the end of the week stood at 3,323.3 USD/ounce, up 55 USD compared to the beginning of the week. Currently, each tael of SJC gold bar is 17.3 million VND more expensive than the world price. The world's precious metals fluctuated during the week, mainly due to the impact of world trade tensions and partly due to the military conflict between India and Pakistan.

With strong fluctuations this week, the forecast for gold prices next week is also divided into many different views. Specifically, the survey of Kitco News attracted 15 Wall Street analysts to participate, divided equally into 3 views of increase, decrease and sideways. Specifically, there are 5 analysts, accounting for 33% predicting gold prices will increase. At the same time, there are also 5 people, corresponding to 33%, thinking that gold prices will decrease and the remaining 5 people believe that the precious metal will move sideways.

Meanwhile, in a Main Street survey of 267 individual investors, 144 people, or 54%, still predicted gold would rise. Conversely, 77 people, or 29%, thought gold would fall, and the remaining 46 investors, or 17%, said the precious metal would move sideways.

JP Morgan recently predicted that gold prices could reach $4,000 an ounce in the next 12 months. The main driving force is buying from emerging market central banks and ETFs. In addition, demand from the jewelry and technology industries is expected to remain stable and may increase in the coming time./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-vang-hom-nay-1152025-tang-22-trieu-dong-trong-tuan-nhung-nguoi-mua-van-lo-185250511063823208.htm

Source: https://baolongan.vn/gia-vang-hom-nay-11-5-tang-2-2-trieu-dong-trong-tuan-nhung-nguoi-mua-van-lo-a195016.html