Gold prices surged today, August 3rd: Forecast for next week's trend.

(NLDO) – For the first time, 94% of experts surveyed predicted that gold prices will continue to increase today on the international market.

Gold prices surged today, August 3rd.

On the weekend of August 3rd, SJC gold bars were listed by companies at 121.5 million VND per tael for buying and 123.5 million VND per tael for selling, an increase of 2.4 million VND per tael compared to the end of the previous week.

Gold prices broke a two-week losing streak with a sharp surge at the end of the week. The price of gold bars is heading towards its historical peak of over 124 million VND, a level previously reached in April.

Similarly, the price of 99.99% pure gold rings and jewelry also increased by up to 2 million VND/ounce compared to the end of last week, reaching 116.5 million VND/ounce for buying and 117 million VND/ounce for selling.

Domestic gold prices have surprised many by rising sharply across the board, following the surge in global prices.

On the international market, gold closed the trading week at $3,363 per ounce, an increase of nearly $30 per ounce compared to the end of the previous week. Throughout the week, gold prices fluctuated constantly, with several sessions experiencing sharp declines to $3,267 per ounce before rebounding. It wasn't until the final trading session that the precious metal on the international market surged by $70 per ounce.

The price of SJC gold bars has increased sharply compared to last week.

The "reversal" in global gold prices has led experts to be optimistic about the trend for the coming week, according to a Kitco survey. This week, 17 Wall Street analysts participated in the survey, with 94% predicting further increases in gold prices, none predicting a decrease, and only 6% forecasting sideways movement. This is a rather surprising survey result given the current context.

According to experts, gold prices reversed course and surged dramatically at the end of the week as the US dollar plummeted. The US dollar index (DXY) on the international market unexpectedly fell from above 100 points to 98.6 points, losing 1.28% compared to the previous session.

Tariffs impact the outlook for the gold market.

Some analysts remain optimistic about gold, seeing it continue to act as a safe haven, especially as US President Donald Trump imposes higher import tariffs worldwide. While trade agreements with Japan and Europe last week, involving a 15% increase in import tariffs, have somewhat eased global trade uncertainty, countries like Canada, which have yet to finalize agreements, will face a 35% tariff increase this August.

Meanwhile, Indian imports face a 25% increase, while Taiwanese (China) exports will be subject to a 20% tariff...

"Tariffs mean countries will trade less in USD, and gold prices will continue to rise as the world seeks an alternative asset," said Chris Vecchio, Head of Futures and Foreign Exchange Strategy at Tastylive.com.

Currently, based on the exchange rate at Vietcombank , world gold is priced at 107 million VND per tael, which is more than 16.5 million VND lower than the price of SJC gold bars per tael.

Source: https://nld.com.vn/gia-vang-hom-nay-3-8-du-bao-hiem-thay-ve-vang-tuan-toi-196250803085628463.htm