Gold price today April 27: Sharp drop from peak, still expected to be surprising

On Sunday morning, April 27, the price of SJC gold bars was listed by businesses at around 119 million VND/tael for buying and 121 million VND/tael for selling, an increase of 7 million VND compared to the end of last week. Compared to the peak price of SJC gold bars at 124 million VND/tael, the gold price has cooled down by about 3 million VND.

Similarly, the price of 99.99 gold rings and jewelry gold of all kinds is listed by businesses at 114 million VND/tael for buying and 116.5 million VND/tael for selling - an increase of 3 million VND/tael compared to the end of last week.

Domestic gold prices have been fluctuating strongly over the past 2 weeks. Some days, the gold price fluctuates by millions of VND/tael. A notable development is that the price of SJC gold bars is increasingly widening the gap with gold rings.

Domestic gold prices fluctuated due to the influence of world prices. In the international market, gold prices closed the trading week at 3,318 USD/ounce, down about 10 USD/ounce compared to the end of last week. The international gold market witnessed a week of intense fluctuations, when it reached an all-time peak of 3,500 USD/ounce and then plummeted to 3,270 USD/ounce, before recovering.

Giá vàng hôm nay 27-4: Giảm mạnh từ đỉnh, vẫn được dự báo bất ngờ - Ảnh 1. — SJC gold bar and gold ring prices fluctuated strongly last week

Gold prices have now lost 5% to 6% from their peak. However, investors are optimistic about the upcoming trend, according to the Kitco survey.

Accordingly, in the survey on Wall Street, 13 analysts participated in the response, of which 46% predicted that gold prices would continue to increase, 54% expected gold prices to decrease and the rest said that gold prices would go sideways. The experts' views began to be conflicted about the trend of the precious metal.

In contrast, in an online survey of 316 investors on Main Street, 48% said gold prices will continue to rise, 29% predicted gold prices will fall, and the rest said gold prices will remain flat. Investors remain optimistic about the upward momentum of gold prices.

According to analysts, the current gold price has become more unpredictable as the precious metal may sell off if long-term investment flows shift to other safe havens such as short-term treasury bonds. However, when the gold price fell below the $3,300/ounce mark, bottom-fishing demand increased sharply, helping the gold price recover.

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