Heavy loss after one week

Update SJC gold price

Domestic SJC gold price closed on August 4, 2024.

Last week, SJC gold price increased sharply, however, the difference between buying and selling gold was high, investors still suffered heavy losses.

If you buy gold at DOJI Group on July 28 at VND79.5 million/tael and sell it today (August 4), you will lose VND1.2 million/tael. Meanwhile, those who buy gold at Saigon Jewelry Company SJC will also lose VND1.2 million/tael.

Currently, the difference between buying and selling gold prices is listed at around 2 million VND/tael. Experts say that this difference is very high, causing investors to face the risk of losing money when investing in the short term.

Price of round gold ring 9999

As of 6:00 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 76.40 - 77.55 million VND/tael (buy - sell); an increase of 600,000 VND/tael for buying and an increase of 500,000 VND/tael compared to the closing price of last week's trading session.

Saigon Jewelry Company listed the price of gold rings at 76.15-77.55 million VND/tael (buy - sell); an increase of 650,000 VND/tael for buying and an increase of 550,000 VND/tael compared to the closing price of the previous trading session.

Bao Tin Minh Chau listed the price of gold rings at 76.32 - 77.52 million VND/tael (buy - sell); an increase of 440,000 VND/tael for both buying and selling compared to the closing price of the previous trading session.

In recent sessions, the price of gold rings has often fluctuated in the same direction as the world market. Investors can refer to the world market and expert opinions before making investment decisions.

World gold price

As of 8:00 p.m. today, the world gold price listed on Kitco was at $2,443.1/ounce, up $47.2/ounce compared to the close of last week's trading session. The precious metal is on a downward trend, but still anchored at a high level.

Gold Price Forecast

World gold prices are anchored high as the USD index falls. Recorded at 7:30 p.m. on August 4, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 102.999 points (down 1.16%).

Gold had one of its strongest price gains of the year this week. The latest Kitco News weekly gold survey found that a majority of investors expect the precious metal to continue rising next week. Meanwhile, experts are also confident in gold’s upward trajectory.

This week, 14 analysts participated in the Kitco News Gold Survey. Wall Street's optimism about gold surged after stocks were rocked by economic and geopolitical threats.

Eleven experts predict gold prices will rise further next week. Meanwhile, only one predicts prices will fall. The remaining two analysts predict gold prices will be flat next week.

Meanwhile, 191 votes were cast in Kitco's online poll. 140 investors expect gold prices to rise next week. Another 28 predict gold prices will fall. Meanwhile, only 23 predict gold prices will remain unchanged.

Adrian Day, president of Adrian Day Asset Management, predicts that gold prices will rise higher next week amid a weakening US economy and the increasing likelihood of interest rate cuts. Speaking at a press conference this week, US Federal Reserve Chairman Jerome Powell expressed his eagerness to cut interest rates. Day said that the recent data has given the US central bank more reason to make a policy pivot.

Gold will move higher next week, said senior commodities broker Bob Haberkorn of RJO Futures. He explained that this week’s sell-off in gold was short-lived. Recession fears and weak jobs numbers have pushed gold higher and prices will continue to move higher next week to surpass $2,500 an ounce again.

Meanwhile, George Milling-Stanley, an expert at State Street, commented that the current economic and political situation is supporting gold prices, and prices could reach $2,500 - $2,700/ounce if the USD continues to weaken due to the FED's interest rate policy.

Source: https://laodong.vn/tien-te-dau-tu/cap-nhat-gia-vang-chot-phien-48-lo-nang-sau-mot-tuan-1375953.ldo