Gold price today 11-5: Rapid increase, still predicted to go up

On Sunday morning, May 11, the price of SJC gold bars was commonly listed by SJC, DOJI , and PNJ businesses at around 120 million VND/tael for buying and 122 million VND/tael for selling, an increase of 700,000 VND/tael compared to the end of last week.

Bao Tin Minh Chau Company sells gold bars under the brand name Vang Rong Thang Long for 120 million VND/tael; while PNJ Company sells PNJ gold bars for around 116.6 million VND/tael.

The price of 99.99 gold rings and jewelry gold listed by businesses is 114.5 million VND/tael for buying and 117 million VND/tael for selling, an increase of 500,000 VND/tael compared to the end of last week.

During the week, there was a time when the price of gold bars dropped to 119.5 million VND/tael and then increased again.

Giá vàng hôm nay 11-5: Tăng nhanh, giá vàng vẫn được dự báo ngược- Ảnh 2. — SJC gold bar price fluctuated strongly last week

On the international market, the gold price closed the trading week at 3,325 USD/ounce, an increase of about 100 USD/ounce compared to the end of last week (about 3.1 million VND/tael).

Gold prices rose again despite the rapid recovery of the USD. Investors still seek gold as a safe haven against geopolitical fluctuations, conflict tensions in India and Pakistan; or ongoing US-China trade negotiations.

Meanwhile, forecasts for next week's gold price trend are divided between analysts and investors, according to Kitco.

Specifically, in a survey on Wall Street, 15 analysts participated in the response, of which only 33% said that gold prices would increase, 54% said that gold prices would decrease and the remaining 33% predicted that gold prices would remain stable. Experts have had 3 consecutive weeks of saying that gold prices will hardly increase again in the short term.

On the other hand, the Main Street online survey found that 267 investors responded, of which 54% predicted gold prices to rise, 29% said gold prices to fall and the remaining 17% said gold prices would remain flat.

Currently, the world gold price converted according to the listed exchange rate is about 104.8 million VND/tael.