At the end of the week, on July 27, the price of SJC gold bars was listed by companies at 119.6 million VND per tael for buying and 121.1 million VND per tael for selling.
Compared to last weekend, the price of gold decreased by 100,000 VND per tael. This is the second consecutive week that the price of gold has decreased, after days of strong fluctuations.
During the week, there was a time when the price of gold bars increased to 122.7 million VND/tael but then turned down immediately after.
Meanwhile, the price of 99.99% gold rings and jewelry gold fluctuated in opposite directions. Currently, companies are trading gold rings at around 114.5 million VND/tael for buying and 117 million VND/tael for selling, an increase of about 300,000 VND/tael compared to the end of last week.
Domestic gold prices marked the second consecutive week of decline. However, the gap between domestic and world gold prices is still very large.
Gold price today decreased for the second consecutive week
In the international market, the gold price closed the trading week at 3,338 USD/ounce, down about 12 USD/ounce compared to the end of last week.
Gold prices fell after a sharp decline at the weekend. In just a few days, the precious metal dropped by 100 USD/ounce (equivalent to about 3.2 million VND).
Mixed forecasts for gold prices next week
A notable development, contrary to the optimistic assessments of previous weeks, this week, analysts believe that gold prices will not stop falling.
According to Kitco's latest survey on gold price trends on Wall Street, 14 analysts participated in the survey, of which only 14% said that gold prices will continue to increase; 36% said that gold prices will decrease and the remaining 50% said that gold prices will remain stable.
Contrary to experts' forecasts, the survey of 206 Main Street investors showed that the majority remained optimistic, with 66% of respondents saying that gold prices would continue to rise in the near future; only 19% predicted that prices would fall and the remaining 15% said that the market would move sideways.
Gold prices today are still expected to increase by investors.
According to analysts, this week the market is waiting for a lot of notable information about growth, inflation and employment in addition to important decisions on US interest rates.
Many central banks of countries will also announce monetary policy decisions… These factors will affect gold prices.
However, after a sharp drop over the weekend, gold prices are hovering around $3,338 an ounce, Marc Chandler, managing director at Bannockburn Global Forex, told Kitco.
Breaking the threshold of 3,321 USD/ounce, the precious metal could fall closer to the 3,300 USD/ounce zone, or even fall deeper to around 3,250 USD/ounce.
Daniel Pavilonis, senior commodities broker at RJO Futures, said gold prices are falling due to positive news about the trade deal. Although it is uncertain how these agreements will be resolved and whether they will be delayed on August 1, gold prices are being affected and cannot increase.
Currently, converted according to the exchange rate at Vietcombank , world gold is priced at 105.9 million VND per tael, more than 15 million VND per tael lower than the price of SJC gold bars.
Source: https://nld.com.vn/gia-vang-hom-nay-27-7-xuat-hien-du-bao-bat-ngo-196250727090451506.htm
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