Gold rings suddenly dropped to 2.2 million

Update on the closing price of gold on April 13: Gold rings suddenly dropped by 2.2 million — Illustration: Phan Anh

Update SJC gold price

Domestic SJC gold price developments at the close of session on April 13, 2024. Unit: Million VND/tael. Chart: Khuong Duy

9999 gold ring

As of 6:00 p.m. today, April 13, the price of gold rings at Bao Tin Minh Chau is listed at 74.08-76.08 million VND/tael.

Compared to the closing price of yesterday's trading session, Bao Tin Minh Chau adjusted the price of gold rings down by 1.7 million VND/tael for buying and down by 1.6 million VND/tael for selling.

9999 Hung Thinh Vuong Round Ring at DOJI is listed at 74.05-76.15 million VND/tael (buy - sell).

Compared to the closing price of yesterday's trading session, DOJI adjusted the price of gold rings down by 2.2 million VND/tael for both buying and selling.

Phu Nhuan Jewelry (PNJ) listed at 74.3-76.2 million VND/tael (buy - sell).

World gold price

World gold prices fell while the USD index increased. Recorded at 6 p.m. on April 13, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 105.820 points (up 0.72%).

Gold Price Forecast

The latest Kitco News weekly gold survey shows that experts are very positive on the precious metal.

Twelve Wall Street analysts participated in the Kitco News Gold Survey this week. Nine experts, or 83%, see gold prices rising even higher next week, while two analysts, or 17%, see prices falling. None see prices remaining at current levels.

Meanwhile, 168 votes were cast in Kitco's online poll. 111 retail traders, or 66 percent, expect gold to rise next week. Another 30, or 18 percent, predict lower prices, while 27 respondents, or 16 percent, see the precious metal trending sideways.

Darin Newsom - senior market analyst at Barchart.com - commented that despite external influences, the gold price trend is still increasing.

Sharing the same view, Colin Cieszynski - Chief Market Strategist at SIA Wealth Management - also expressed optimism about gold prices next week.

Frank McGhee, head of precious metals trading at Alliance Financial, said he was once a skeptic of gold's recent rally, but is now a believer as the market finally takes notice of geopolitical events.

James Stanley, senior market strategist at Forex.com, expects gold prices to continue rising next week: “Demand for gold is strong and I don’t see any signs of that changing.

From a macro perspective, what we are seeing is expectations that the Federal Reserve will remain dovish even after what we saw in the CPI this week. I don’t expect that to change and that could open the door for gold to move higher.”

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