High anchor, should I buy?

Gold price update morning of August 4: High, should you buy? — Illustration: Phan Anh

SJC gold bar price

9999 gold ring price

As of 6:00 a.m., the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 76.40-77.55 million VND/tael (buy - sell), unchanged for buying and down 100,000 VND/tael for selling.

Saigon Jewelry Company listed the price of gold rings at 76.15-77.55 million VND/tael (buy - sell); down 200,000 VND/tael for buy and down 100,000 VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 76.32-77.52 million VND/tael (buy - sell), down 110,000 VND/tael for both buying and selling.

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 an investment decision.

World gold price

As of 6:00 a.m. on August 4, the world gold price listed on Kitco was at 2,443.1 USD/ounce.

Gold price forecast

World gold prices are anchored high as the USD index falls. Recorded at 6:00 a.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%).

The global gold market recorded one of the strongest price increases of the year this week, supported by gloomy US data and a more dovish stance from the US Federal Reserve (FED). Concerns about escalating geopolitical tensions also provided a strong boost to the precious metal.

Although gold has since fallen sharply, that does not seem to have dampened the optimism of experts and retail investors. The latest Kitco News weekly gold survey shows 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 that gold prices will increase further next week. Meanwhile, only one predicts that prices will decrease. The remaining two analysts predict that 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 will fall. Meanwhile, only 23 predict gold prices will remain unchanged.

Adrian Day, president of Adrian Day Asset Management, predicts gold prices will rise higher next week amid a weakening US economy and increased likelihood of interest rate cuts. Speaking at a press conference this week, Fed Chairman Jerome Powell appeared eager to cut interest rates. Day said that the recent data gave the US central bank more reason to make a policy pivot.

RJO Futures senior commodities broker Bob Haberkorn said he expects gold to move higher next week. 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.

Source: https://laodong.vn/tien-te-dau-tu/cap-nhat-gia-vang-sang-48-neo-cao-co-nen-mua-vao-1375647.ldo