How are precious metals performing this week?

World gold price this morning stood at 2,016 USD/ounce, unchanged from early yesterday morning.

The price of precious metals has leveled off today after a sharp decline at the end of last week. However, according to analysts, gold is still in an upward trend. Therefore, the price decrease after the end of the week is an advantage for investors to buy.

According to the survey, gold investors' sentiment is very stable in the context of falling prices. This partly shows that the upward trend of gold prices is still there.

Gold prices are predicted to be mixed.

Thorsten Polleit, chief economist at Degussa, said that the fall in gold prices is not a cause for concern because the long-term price trend is upward.

Gold price movements today

+ Domestic gold price

At 6:30 a.m. on May 8, the gold price at Doji was listed at 66.4-67.1 million VND/tael (buy - sell), down 1,000,000 VND/tael in both directions compared to the same time yesterday.

Meanwhile, the gold price at SJC was listed at 66.35-67.07 million VND/tael (buy - sell), down 150,000 VND/tael in both directions compared to yesterday afternoon.

The price of gold rings and jewelry of all kinds is traded around 53.65 - 55.9 million VND/tael.

+ International gold price

The world gold price listed on Kitco is at 2,016 USD/ounce, unchanged from yesterday morning. Gold futures last traded at 2,020 USD/ounce.

Gold Price Forecast

Last week, 22 Wall Street analysts participated in Kitco News’ gold survey. Of those surveyed, 32% were bullish on gold prices in the near term. Forty-one percent said gold prices would fall, and 27% said they expected gold to trade sideways.

Meanwhile, 774 votes were cast in online polls. Of these, 500 respondents, or 65%, said gold prices would rise in the coming period. Another 163, or 21%, said they would fall, while 111, or 14%, said gold prices would trade sideways.

The mixed sentiment among analysts and retail investors suggests the precious metal is not ready to make a lasting record high. The sentiment comes as gold ended the week holding key support above $2,000 an ounce but down sharply from an all-time high above $2,080 an ounce. Analysts said the market continues to react to expectations of ultra-accommodative interest rates.

Ngoc Vy

Useful
Emotion
Creative
Unique
Wrath

Source: https://vtc.vn/gia-vang-hom-nay-8-5-tuan-nay-kim-loai-quy-dien-bien-the-nao-ar770999.html