Gold is constantly "up and down", what will the price be next week?

Domestic gold price today April 29, 2024

At the time of survey at 5:00 a.m. on April 28, 2024, the gold price today, April 29, on the trading floors of some companies is as follows:

Today's 9999 gold price is listed by DOJI at 82.60 million VND/tael for buying and 84.80 million VND/tael for selling.

At Mi Hong Gold and Gemstone Company, the price of Mi Hong gold at the time of survey listed the price of SJC gold at 83.30 - 84.50 million VND/tael (buy - sell).

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 83.25 - 85.10 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 83.25 - 85.35 million VND/tael (buy - sell).

Gold price today April 29, 2024, SJC gold price, 9999 gold price, 24k gold price, 18k gold price April 29, 2024. Photo: Can Dung

The latest gold price list today, April 29, 2024 is as follows:

	April 29, 2024 (million dong)		Difference (thousand dong/tael)
	Buy	Sell	Buy	Sell
SJC in Hanoi	83.00	85.20	-	-
DOJI Group	82.60	84.80	-	-
Red Eyelashes	83.00	84.50	-	-
PNJ	83.00	85.20	-	-
Vietinbank Gold	83.00	85.22	-	-
Bao Tin Minh Chau	83.25	85.10	-	-
Bao Tin Manh Hai	83.25	85.35	-	-

1. DOJI - Updated: April 27, 2024 08:49 - Time of the source website - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell
AVPL/SJC HN	82,600	84,800
AVPL/SJC HCM	82,600	84,800
AVPL/SJC DN	82,600	84,800
Raw material 9999 - HN	74,250	75,250
Raw material 999 - HN	74,150	75,150
AVPL/SJC Can Tho	82,600	84,800

World gold price today April 29, 2024 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 2,337.91 USD/ounce. Converted according to the current exchange rate at Vietcombank, the world gold price is about 70.468 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 12.532 million VND/tael higher than the international gold price.

Gold price fluctuation chart in the last 24 hours

Last week, the world gold price had a sharp decline. At the end of the week, the world gold price was 2% lower than the closing price of the previous weekend.

According to many market experts, the sharp drop in world gold prices is mainly due to investors being disappointed when tensions in the Middle East did not escalate as they had previously expected.

This has caused retail investors to start losing faith in the precious metal, while analysts are quite the opposite, they remain quite optimistic, according to the results of the latest weekly gold survey by Kitco News.

This week, 10 Wall Street experts participated in the gold survey. Their views were almost identical to last week. Seven experts (70%) predicted that gold prices would rise next week. Meanwhile, two experts (20%) said that gold would continue to move sideways; only one expert (10%) predicted that prices would fall.

Meanwhile, 155 votes were cast in the online poll. Notably, the number of investors who see the precious metal rising next week is falling rapidly.

Seventy-four investors (48%) expect gold to rise next week. Another 46 (30%) predict lower prices, while 35 investors (22%) expect the precious metal to trade sideways next week.

The gold market is likely to see more volatility next week as the US Federal Reserve is expected to reiterate its stance that it is not ready to cut interest rates before the summer, according to experts. Analysts also believe that the US central bank is unlikely to start an easing cycle before the US election in November.

Analysts also noted that the latest economic data puts the central bank in a difficult position as inflation remains high and growth slows. Phillip Streible, market strategist at Blue Line Futures, said he remains bullish on gold as the U.S. economy appears to be entering a period of stagflation. However, he added that investors will have to pay close attention to data next week, including April jobs data.

Streible added that if the report shows weak jobs growth and rising wages, it would paint an even clearer picture of stagflation, which could push gold prices out of their current consolidation.

While US economic data and interest rates will create some short-term volatility in the gold market, experts say these are still secondary factors for the precious metal.

Sean Lusk, co-director of commercial hedging at Walsh Trading, said geopolitical volatility and inflation will continue to push gold prices higher. He doesn’t believe the geopolitical situation has really cooled down and predicts more conflict in the near future.

However, Lusk added: “The focus is that the Fed will no longer raise interest rates, which will help money flow back into the dollar. US bonds are collapsing because of high yields. This is really the enemy of gold price increase.”

The most important US economic news affecting gold prices next week includes the FED's monetary policy meeting and the non-farm payrolls report.

Also on the docket are the US consumer confidence report due on Tuesday, the ADP jobs report due on Wednesday, the ISM manufacturing index and initial jobless claims due on Thursday, and the ISM services index due on Friday.

Reference addresses of popular gold shops in Hanoi:

1. Bao Tin Minh Chau - 15 - 29 Tran Nhan Tong, Bui Thi Xuan, Hai Ba Trung, Hanoi

2. DOJI Gold and Gemstone Company - 5 Le Duan, Dien Bien, Ba Dinh, Hanoi

3. SJC store chain in the Northern region - 18 Tran Nhan Tong, Nguyen Du Ward, Hai Ba Trung District, Hanoi City

4. PNJ store chain in the Northern region - 222 Tran Duy Hung, Trung Hoa, Cau Giay, Hanoi

5. Phu Quy Gold and Silver - No. 30 Tran Nhan Tong, Hai Ba Trung, Hanoi

6. Ngoc Anh Gold and Silver – No. 47 Lo Duc, Pham Dinh Ho, Hai Ba Trung, Hanoi

7. Gold Quy Tung – No. 102 Khuong Dinh, Thanh Xuan, Hanoi

8. Bao Tin Lan Vy - No. 84A, Tran Duy Hung, Cau Giay, Hanoi

9. Hoang Anh Gold and Silver – No. 43 Thai Thinh, Dong Da, Hanoi

10. Huy Thanh Jewelry - No. 23/100 (old number: No. 30A, lane 8), Doi Can, Ba Dinh, Hanoi

Reference addresses of popular gold shops in Ho Chi Minh City:

1. Mi Hong Gold Shop - 306 Bui Huu Nghia, Ward 2, Binh Thanh District, HCMC

2. Kim Ngoc Thuy Gold Shop - 466 Hai Ba Trung, Tan Dinh Ward, District 1, HCMC

3. Saigon Jewelry Company Limited - 418-420 Nguyen Thi Minh Khai, Ward 5, District 3, HCMC

4. Tan Tien Jewelry - No. 161 Hanoi Highway, Thao Dien Ward, District 2, HCMC

5. Ngoc Tham Gold, Silver, Gemstones - No. 161 Hanoi Highway, Thao Dien Ward, District 2, HCMC

6. Kim Thanh Thao Gold Shop - 209 Tan Huong, Tan Quy Ward, Tan Phu District, HCMC

7. Kim Thanh Nam Gold Shop - 81A, Nguyen Duy Trinh, Binh Trung Tay Ward, District 2, HCMC

8. Kim Mai Gold Shop - 84C, Cong Quynh, Pham Ngu Lao Ward, District 1, HCMC

9. PNJ chain stores in the Southern region - Booth R011838, Ground floor, Diamond Plaza Shopping Center, 34 Le Duan, Ben Nghe Ward, District 1, HCMC

10. DOJI Gold and Gemstone Company – 81-85 Ham Nghi, Nguyen Thai Binh Ward, District 1, HCMC

Source: https://congthuong.vn/gia-vang-hom-nay-2942024-vang-lien-tuc-len-thac-xuong-ghenh-gia-tuan-toi-ra-sao-317330.html