End of the week April 1 – April 7, gold price rings listed by large businesses at 71 85-73 1 million VND/tael increased by 250,000 VND compared to the opening price on April 6. In just 2 days, the price of gold rings increased nearly 1 5 million VND/tael.
The mark of 73 1 million VND in the selling afternoon is also the record price range for gold rings ever. However, towards the end of the week, gold ring prices continuously set new peaks The next record broke the old record.
Bao Tin Minh Chau even pushed the selling price of gold rings to 74 3 million VND/tael and the purchased price to 72 9 million VND/tael. This level increased by 1 85 million VND compared to the previous morning at some business other gold rings sold around 71 8-74 2 million VND/tael (buy – sell).
Only for SJC gold rings compared to the beginning of the year, each quantity increased by 10 05 million VND in the buying and selling direction. An increase of 10 1 million VND in sales is equivalent to an increase of 16%.
Thus, if an investor buys a quantity of gold rings at the beginning of the year and sells them, they will make a profit of 9 million VND. The first trading session of the year SJC gold rings were listed at 61 8-63 million VND/tael (buy – sell).
As for SJC gold bars, the business ended on April 6. listed at 79 5-81 9 million VND/tael (buy – sell) down 200,000 VND compared to the opening price.
The selling price of 81,9 million VND/tael is not a record for SJC gold bars since the beginning of the year until now, but compared to the beginning of the year, the price per tael of gold bars has increased by 11%.
The record for SJC gold bars is 82,5 million VND in the sale afternoon on March 12. The first trading session of the year SJC gold bars were listed at 71-74 million VND/tael (buy – sell).
In the international market, gold prices continued to set a new record reaching 2,329 USD/ounce, an increase of 96.2 USD/ounce compared to last week’s closing session. Compared to world gold, domestic gold price is 11 5-12 5 million VND/tael more expensive depending on the time with gold bars and gold rings 2-3 million VND/tael more expensive.
World gold price on April 7 recorded an increase of 13% compared to the beginning of the year. Compared to the bottom from the beginning of the year, international gold prices increased by nearly 17%.
What will the gold price be next week?
According toKitco News many experts are predicting quite optimistically about gold prices next week. 12 Wall Street analysts participated in the gold survey and optimism took over.
Among the experts who conducted the survey, 9 experts (equivalent to 75%) expected will see gold prices move higher next week. One analyst (8%) predicts prices will fall. The remaining two experts (accounting for 17%) have a neutral opinion on the gold price next week.
Meanwhile, 240 votes were cast in the online poll, 75% of investors predicted. Gold prices will increase further or trade sideways.
Accordingly, there are 159 houses. Retail transactions (accounting for 65%) expect gold to increase next week. Another 41 respondents (or 17%) predicted lower prices while 40 respondents (or 17%) said they were neutral on the short-term outlook for gold prices.
The breakout The breakthrough in world gold last week came after the US economy created 303,000 jobs in March, far exceeding predictions. At the same time, the unemployment rate dropped to 38%. Despite strong employment growth, wages remained relatively flat, rising 0.3% in line with projections.
Over the past week members of the Federal Open Market Committee has stayed away from the topic of interest rate cuts. According to the CME FedWatch Tool, the market is predicting a 54% chance of a rate cut in June. Last week the market was pricing in a more than 60% chance of easing.
Ole Hansen Chief Strategy Officer Commodities strategist at Saxo Bank says he suspects gold is attracting some safe-haven flows as geopolitical tensions in the Middle East escalate due to the war between Israel and Hamas in Gaza.
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