Gold price today 4-5: Continuously falling, experts predict it will be difficult to increase

(NLDO) – Gold prices today continue to retreat from their record peak, while investors are optimistic, experts say it will be difficult to increase in the coming days.

At the end of the week of May 4, the price of SJC gold bars was commonly listed by SJC, DOJI , and PNJ businesses at around 119.3 million VND/tael for buying and 121.3 million VND/tael for selling, an increase of 300,000 VND/tael compared to the end of last week.

However, some other businesses also have differences in the price of gold bars. Bao Tin Minh Chau Company sells SJC gold bars for 121 million VND/tael; Mi Hong Company sells for 119 million VND/tael.

Similarly, the price of 99.99 gold rings and jewelry gold also has a difference between gold shops. Mi Hong Company bought gold rings at 114 million VND/tael and sold at 115 million VND/tael, stable compared to the end of yesterday. Meanwhile, some other businesses sold gold rings at a higher price of 116.5 million VND/tael.

The price of SJC gold bars and gold rings has fluctuated within a narrow range in recent days, in the context that many businesses and gold shops are still on holiday for the April 30 holiday.

Domestic gold prices remained at a high level last week despite a sharp drop in world prices.

In the international market, the price of gold today closed the trading week at 3,239 USD/ounce, down about 80 USD/ounce compared to the end of last week (about 2.5 million VND/tael). The price of gold decreased due to profit-taking pressure from investors, the rapid recovery of the USD and more positive developments related to the US-China trade negotiations.

Forecasting the trend of gold prices next week, there is a tug of war between the opinions of analysts and investors, according to Kitco.

Specifically, in the Wall Street survey, 18 analysts participated in the response, of which only 28% said that gold prices would increase, 50% said that gold prices would decrease and the remaining 22% predicted that gold prices would remain stable. Experts have said for two consecutive weeks that gold prices will be difficult to increase again in the short term.

SJC gold bar price is nearly 3 million VND/tael away from its historical peak.

On the other hand, the Main Street online survey found that of the 273 investors who responded, 52% said gold prices would rise, 29% said gold prices would fall and 19% said gold prices would remain flat.

Some opinions say that the gold price has held above $3,200 and increased slightly to $3,270/ounce but could not maintain the increase and fell back. The recovery of the USD and the possibility of further interest rate increases are causing disadvantages for the gold price in the coming days.

Currently, the world gold price converted according to the listed exchange rate is about 102.3 million VND/tael, about 18 million VND/tael lower than SJC gold bars and about 13 million VND/tael lower than gold rings.

Source: https://nld.com.vn/gia-vang-hom-nay-4-5-lien-tuc-di-xuong-chuyen-gia-du-bao-kho-tang-196250504091033395.htm