On the weekend of July 27th, SJC gold bars were listed by companies at 119.6 million VND per tael for buying and 121.1 million VND per tael for selling.
Compared to last weekend, the price of gold has decreased by 100,000 VND per tael. This is the second consecutive week that gold prices have fallen, following days of significant fluctuations.
During the week, the price of gold bars briefly rose to 122.7 million VND/ounce but then immediately reversed and fell.
Meanwhile, the prices of gold rings and 99.99% pure gold jewelry are fluctuating in the opposite direction. Currently, companies are trading gold rings at around 114.5 million VND/ounce for buying and 117 million VND/ounce for selling, an increase of about 300,000 VND/ounce compared to the end of last week.
Domestic gold prices marked their second consecutive week of decline. However, the gap between domestic and international gold prices remains very large.
Gold prices fell for the second consecutive week today.
On the international market, the price of gold closed the trading week at $3,338 per ounce, down approximately $12 per ounce from the end of the previous week.
Gold prices fell after a sharp drop at the end of the week. In just a few days, the precious metal plummeted by $100 per ounce (approximately 3.2 million VND).
Conflicting forecasts for gold prices next week.
In a notable development, contrary to the optimistic predictions of previous weeks, analysts believe that gold prices will not stop their downward trend this week.
According to the latest Kitco survey on gold price trends on Wall Street, 14 analysts participated, with only 14% believing that gold prices will continue to rise; 36% predicting a decline, and the remaining 50% predicting prices will remain stable.
Contrary to expert predictions, a survey of 206 Main Street investors revealed that the majority remain optimistic, with 66% believing that gold prices will continue to rise in the near future; only 19% predict a decline, and the remaining 15% believe the market will remain flat.
Investors still predict that gold prices will rise today.
According to analysts, this week the market is awaiting several key pieces of information regarding growth, inflation, and employment, in addition to important decisions on US interest rates.
Many central banks around the world will also announce monetary policy decisions… These factors will impact the price of gold.
However, in response to Kitco, Marc Chandler, managing director at Bannockburn Global Forex, stated that after a sharp drop over the weekend, gold prices are currently fluctuating around $3,338 per ounce.
Breaking below the $3,321/ounce level, the precious metal could fall towards the $3,300/ounce mark, or even further down to around $3,250/ounce.
Daniel Pavilonis, a senior commodities broker at RJO Futures, noted that gold prices are falling due to positive news regarding a trade agreement. While it remains uncertain what these agreements will entail and whether they will be delayed until August 1st, gold prices are already being affected and are unlikely to rebound.
Currently, based on the exchange rate at Vietcombank , world gold is priced at 105.9 million VND per tael, which is more than 15 million VND lower than the price of SJC gold bars per tael.
Source: https://nld.com.vn/gia-vang-hom-nay-27-7-xuat-appear-du-bao-bat-ngo-196250727090451506.htm
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