Gold price today April 7: Sideways at high level

The world gold price listed on Kitco floor at 6:00 a.m. on April 7 was at 2,329.2 USD/ounce, while domestic gold bars were at 79.50 - 81.90 million VND/tael (buy - sell), gold rings were around 72-74 million VND/tael in the afternoon (buy - sell), unchanged compared to the trading session yesterday morning (April 6).

Globally, concerns over the conflict in the Middle East have provided a strong impetus to push gold prices to new record highs.

At the end of the week, the world price of yellow metal increased by 5% compared to the closing price of the previous week.

Gold price movements today

+ Domestic gold price

Domestic gold bars are at 79.50 - 81.90 million VND/tael (buy - sell), gold rings are around 72-74 million VND/tael (buy - sell). (Illustration photo: Minh Duc).

At 6:00 a.m. on April 7, SJC gold price was traded at 79.50 - 81.90 million VND/tael (buy - sell).

Meanwhile, Doji 's price is listed at 79 - 82 million VND/tael (buy - sell) in both Hanoi - Ho Chi Minh City and Da Nang.

Gold rings are traded around 72-74 million VND/tael for buying and selling.

+ International gold price

World gold price listed on Kitco is at 2,329.2 USD/ounce.

World gold prices surpassed $2,320/ounce at the end of the trading week, hitting a new record high and recording a third consecutive week of increase.

Gold price forecast

Recent moves in gold have fueled optimism in the market. The latest Kitco News weekly gold survey shows that a majority of both Wall Street professionals and retail investors believe gold will rally further next week, as fears of a sell-off after recent gains are outweighed by broader geopolitical concerns.

Adrian Day, chairman of Adrian Day Asset Management, said demand now extends beyond domestic purchases and investors from Asia. There are no signs of this slowing down, he said.

Meanwhile, SIA Wealth Management Chief Market Strategist Colin Cieszynski is among the few cautious on gold next week.

Cieszynski said he would be in a “wait and see” mode. He explained that while gold is supported by “tailwinds,” the strength of the US dollar combined with rising bond yields will act as a barrier to the precious metal’s rise.

PHAM DUY

Source