Domestic gold price Early this morning, SJC gold price was listed by DOJI Group at 77,8-79,8 million VND/tael (buy - sell). The difference in buying and selling price of SJC gold at DOJI is listed at 2 million VND/tael.
Compared to the opening session of the previous trading session, the gold price at DOJI Group decreased by 700.000 VND/tael in both buying and selling directions.
Meanwhile, at Bao Tin Minh Chau, SJC gold price is listed at 77,3-79,2 million VND/tael (buy - sell). The difference in buying and selling price of SJC gold is 1,9 million VND/tael.
Compared to the opening of the previous trading session, the gold price at Bao Tin Minh Chau was adjusted down by 900.000 VND/tael for buying and down by 950.000 VND/tael for selling.
The difference between buying and selling SJC gold is listed at a high level. This puts investors at risk of loss when buying gold. In addition, some information related to gold management activities and gold bar monopoly recently also makes investors consider more before investing money.
For gold rings As of 8:50 a.m., the price of plain round gold rings listed by Bao Tin Minh Chau was at 68,38-69,68 million VND/tael (buy - sell). Compared to yesterday morning's opening session, Bao Tin Minh Chau's gold ring price decreased by 500.000 VND/tael in both buying and selling directions.
Meanwhile, Saigon Jewelry is listed at 67,8-69,1 million VND/tael for buying and selling. Compared to the opening session yesterday morning, the price of gold rings was adjusted by Saigon Jewelry to decrease by 200.000 VND/tael for both buying and selling directions.
Phu Nhuan Jewelry (PNJ) is listed at 67,9-69 million VND/tael (buy - sell). Compared to yesterday morning's opening session, PNJ's gold ring price did not adjust both buying and selling directions.
World gold price At the beginning of this morning's trading session, it was listed on Kitco at 2.164,5 USD/ounce, down 10,3 USD/ounce compared to the opening of the morning session.
Gold price forecast
World gold prices decreased as the USD index increased sharply. Recorded at 9:00 a.m., the US Dollar Index measuring the fluctuation of the greenback with 6 major currencies was at 104,115 points (up 0,43%).
The strong recovery of the USD has put strong pressure on gold. This precious metal also faced a wave of profit-taking and could not stay at the record level.
Mr. Daniel Ghali - commodity strategist at TD Securities, said the buying motivation seems to have temporarily dried up. Gold price is adjusting. However, gold still has a lot of room to increase in price when the FED cuts interest rates. Low interest rates make gold cheaper for investors holding other currencies.
IG market strategist Yeap Jun Rong said that normally gold will be supported if there are signals of interest rate cuts and the yellow metal will break out once the interest rate cut takes place.
However, the current situation appears to be that gold is overbought, which could cause gold to cool off in the short term after its recent rally. This expert believes that the level of 2.148 USD/ounce is the support level that gold needs to hold.
Meanwhile, chief market strategist Phillip Streible of Blue Line Futures expects that the FED will cut interest rates this year, the demand from central banks along with demand from retail investors and risk prevention. risk is restraining gold's decline. Streible added that gold will need to maintain support between $2.150 and $2.145 per ounce to continue its upward momentum.
According to CME Group's FedWatch Tool, traders are pricing in a 74% chance that the Fed will begin cutting interest rates in June.
