Will gold prices continue to fluctuate this week?

Saigon Jewelry Company listed the price of SJC gold bars at 112 - 114 million VND/tael for buying and selling. The price of SJC gold bars in the past week increased to a record high of 120 million VND/tael but then decreased sharply. However, in general, in the past week, the price of SJC gold bars still increased by 7 million VND/tael.

SJC gold bar price is still high despite the decrease.

The price of gold rings has increased more strongly than SJC gold bars by more than 8 million VND/tael after 1 week. Specifically, Bao Tin Minh Chau Company Limited listed the price of gold rings at 111.2 - 114 million VND/tael for buying and selling.

Other gold trading enterprises listed gold ring prices close to this mark, such as Phu Quy gold brand listed 109.5 - 113.5 million VND/tael; Doji 109.5 - 113.5 million VND/tael...

Despite the record high price of gold, the demand for buying is still very high, making gold scarce in the market. People and investors often line up at stores to buy gold. Gold brands are constantly in a state of "dry supply", forcing them to limit the amount of gold each customer can buy.

On the "online market", gold buying and selling activities are taking place vigorously, with prices differing from 1-3 million VND/tael compared to the listed prices of the brands.

At the same time, the world gold price was listed at 3,347 USD/ounce, up 20 USD/ounce compared to yesterday morning, equivalent to 105.2 million VND/tael. Currently, the domestic gold price is higher than the world's highest by more than 8 million VND/tael.

Experts believe that domestic gold ring and gold bar prices will continue to decrease in the coming time, after a long period of rapid increase, especially under the impact of inspections by state management agencies.

According to Associate Professor - Dr. Nguyen Huu Huan - Ho Chi Minh City University of Economics , when the State Bank takes specific actions such as conducting inspections, checks, and stabilizing the market... there will likely be a wave of gold sell-offs, and speculation will quickly decrease.

Mr. Huan predicts that the difference between domestic gold price and world gold price will be around 4-5 million VND/tael, which is stable. Thus, the possibility of gold price falling from 120 million VND/tael to around 110 million VND/tael is possible.

In case the world gold price continues to increase, even if the State Bank intervenes in the gold market, the price will hardly decrease to 110 million VND/tael. But the market will certainly adjust and cool down.

In the currency market, the State Bank listed the central exchange rate at 24,898 VND/USD. The bank USD price is in the range of 25,785 - 26,140 VND/USD.

The free USD price continues to reach a new record of 26,295 - 26,400 VND/USD.

According to Ngoc Mai (TPO)

Source: https://baogialai.com.vn/gia-vang-tuan-nay-co-tiep-tuc-bien-dong-post319745.html