Losses, confidence declines

Illustration: Phan Anh

Update SJC gold price

At the end of the week's trading session, DOJI Group listed the price of SJC gold at 79 - 81 million VND/tael (buy - sell).

Compared to the close of last week's trading session, gold prices at DOJI remained unchanged in both buying and selling directions.

The difference between buying and selling prices of SJC gold at DOJI Group is at 2 million VND/tael.

Domestic SJC gold price closed on September 1, 2024.

SJC gold price movements last month. Source: Rong Viet Online Services JSC VDOS

Meanwhile, Saigon Jewelry Company listed the price of SJC gold at 79 - 81 VND/tael (buy - sell).

Compared to the closing price of last week's trading session, the gold price at Saigon Jewelry Company SJC remained unchanged in both buying and selling directions.

The difference between buying and selling price of SJC gold at Saigon Jewelry Company is at 2 million VND/tael.

Last week, SJC gold price remained unchanged, however the difference between buying and selling gold was at a high level, causing investors to suffer heavy losses.

If you buy gold at DOJI Group on August 25 at VND81 million/tael and sell it today (September 1), you will lose VND2 million/tael. Similarly, those who buy gold at Saigon Jewelry Company SJC will also lose VND2 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 so high that investors 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 77.5 - 78.6 million VND/tael (buy - sell); an increase of 300,000 VND/tael for buying and an increase of 200,000 VND/tael for selling compared to the closing price of last week's trading session.

Saigon Jewelry Company listed the price of gold rings at 77.3 - 78.6 million VND/tael (buy - sell); an increase of 200,000 VND/tael for both buying and selling compared to the closing price of the previous trading session.

Bao Tin Minh Chau listed the price of gold rings at 77.46 - 78.66 million VND/tael (buy - sell); an increase of 230,000 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 an investment decision.

World gold price

As of 7:00 p.m., the world gold price listed on Kitco was at 2,503.4 USD/ounce, up 8.6 USD/ounce compared to the close of last week's trading session.

World gold price developments. Source: Kitco

Gold price forecast

World gold prices increased in the context of the USD index decreasing. Recorded at 7:00 p.m. on September 1, the US Dollar Index, which measures the greenback's fluctuations against 6 major currencies, was at 101.665 points (up 0.39%).

According to Kitco, gold prices are in a "wait and see" mode as employment data will determine the US Federal Reserve's (FED) monetary policy next week.

The latest Kitco News weekly gold survey shows that investors are reducing their recent optimism on gold prices, while experts are evenly divided on their forecasts.

Fifteen analysts took part in the Kitco News gold survey. Five forecast gold prices to rise next week. Five see gold falling lower next week. The remaining five see sideways trading for the precious metal.

Meanwhile, 199 votes were cast in Kitco's online poll. 112 retail traders expect gold prices to rise next week. Another 47 expect the yellow metal to trade lower, while 40 see prices consolidating next week.

Adrian Day, chairman of Adrian Day Asset Management, is among those predicting a rise in gold prices next week: “As we approach a rate cut by the US Federal Reserve (FED), the momentum could push gold prices higher. The first rate cut in the cycle has been a bullish signal for gold in over 20 years. Although it is already priced in to some extent, I still expect a positive reaction.”

On the other hand, Marc Chandler - General Manager at Bannockburn Global Forex - expects gold prices to fall next week: "The bullish momentum has stalled. I can envision a decline that will take gold prices down to the $2,470-$2,475/ounce range.

Source: https://laodong.vn/tien-te-dau-tu/cap-nhat-gia-vang-chot-phien-19-thua-lo-niem-tin-sut-giam-1387648.ldo