Gold prices surge, breaking through resistance levels.

Illustration photo: Phan Anh

Updated SJC gold prices

Domestic SJC gold prices closed on August 24, 2024.

Gold price movements in SJC gold over the past month. Source: Rong Viet Online Services Joint Stock Company (VDOS).

Price of 9999 pure gold ring

As of 6 PM today, the price of 9999 Hung Thinh Vuong gold rings at DOJI is listed at 77.20-78.40 million VND/ounce (buying price - selling price).

Saigon Jewelry Company listed the price of gold rings at 77.1-78.4 million VND/ounce (buying price - selling price).

In recent trading sessions, the price of gold rings has often fluctuated in the same direction as the global market. Investors can refer to the global market and expert opinions before making investment decisions.

World gold prices

As of 6:30 PM, the world gold price listed on Kitco was at $2,512 per ounce.

World gold price trends. Source: Kitco

Gold price forecast

Global gold prices rose amid a decline in the US dollar index. At 5:45 PM on August 24th, the US Dollar Index, which measures the fluctuations of the greenback against six major currencies, stood at 100.61 points (down 0.78%).

This week, 12 analysts participated in Kitco News' gold survey, with the majority predicting higher gold prices. Seven experts expect gold prices to rise next week, while two analysts forecast a decline. The remaining three experts predict the price of the precious metal will remain flat.

A total of 225 votes were cast in Kitco's online poll. 146 traders expect gold prices to rise next week. 41 others expect the yellow metal to trade lower, while 38 respondents see prices consolidating next week.

Adam Button, Director of Currency Strategy at Forexlive.com, said that gold will rise even higher and nothing can stop the upward momentum of this precious metal.

Kevin Grady, President of Phoenix Futures and Options, believes the gold market is focusing on the expected interest rate cut by the US Federal Reserve (FED), and this could be a new opportunity for gold prices to rise. "I think new highs are ahead for gold," Adam Button emphasized.

Source: https://laodong.vn/tien-te-dau-tu/cap-nhat-gia-vang-chot-phien-248-vang-nhan-tang-cao-but-pha-1384300.ldo