The risk of losses is real.

Updated SJC gold prices

Domestic SJC gold prices closed on June 29, 2024.

Domestic gold price trends. Chart: Khuong Duy

Last week, SJC gold prices remained stable, but the high spread between buying and selling prices resulted in significant losses for investors.

If an investor bought gold at DOJI Group on June 22nd at 76.98 million VND/ounce and sold it today (June 29th), they would lose 2 million VND/ounce. Meanwhile, those who bought gold at Saigon Jewelry Company (SJC) would also experience a similar loss.

Currently, the difference between the buying and selling price of gold is listed around 2 million VND per tael. Experts believe that this difference is very high, posing a risk of losses for investors in the short term.

Price of 9999 pure gold ring

As of 6 PM today, the price of 9999 Hung Thinh Vuong gold rings at DOJI is listed at 74.65-75.90 million VND/ounce (buying price - selling price).

Saigon Jewelry Company listed the price of gold rings at 73.95-75.55 million VND/ounce (buying price - selling price).

Bao Tin Minh Chau listed the price of gold rings at 74.68-75.98 million VND/ounce (buying price - selling price).

World gold prices

As of 6 PM today, the world gold price listed on Kitco is at $2,325.7 per ounce.

World gold price update. Screenshot.

Gold price forecast

Global gold prices fell amid a strong US dollar index. As of 6:00 PM on June 29th, the US Dollar Index, which measures the fluctuations of the greenback against six major currencies, stood at 105.530 points.

Kitco News' latest weekly gold survey shows that most industry experts hold a neutral view on gold prices next week. Meanwhile, retail sentiment remains quite optimistic about gold's short-term outlook.

This week, 12 Wall Street analysts participated in Kitco News' gold survey. Four experts (33%) predicted higher gold prices next week. Two analysts (17%) predicted lower prices. The remaining six experts (exactly 50%) offered a neutral outlook on gold prices in the short term.

Meanwhile, 178 votes were cast in Kitco's online poll. Main Street investors have differing views on the short-term outlook for gold.

Eighty-six retail traders (equivalent to 48%) predict that gold prices will rise next week. Another fifty (equivalent to 28%) predict that the precious metal will fall in price. The remaining 42 (equivalent to the remaining 24%) believe that gold prices will remain stable next week.

Next week brings a number of economic data releases that could impact gold prices. On Monday, the market will receive the US ISM Manufacturing Purchasing Managers' Index (PMI); followed by Tuesday's release of the Eurozone's quick CPI estimate and JOLTS jobs data.

ECB President Christine Lagarde and US Federal Reserve Chairman Jerome Powell will also speak at a central bank conference in Portugal.

Then on Wednesday, the market will be paying attention to the ADP employment data, the weekly US jobless claims figures, along with the minutes of the June FOMC meeting. Finally, the US June non-farm payrolls report will be released on Friday morning.

Source: https://laodong.vn/tien-te-dau-tu/cap-nhat-gia-vang-chot-phien-296-nguy-co-thua-lo-hien-huu-1359485.ldo