How will gold prices perform next week?

Tuần tới giá vàng sẽ diễn biến ra sao? - Ảnh 1. — Gold prices have increased too much over the past two months - Photo: THANH HIEP

Domestic gold price evaporated 3 million VND/tael compared to the peak.

Converted according to the listed exchange rate at the bank, the world gold price is equivalent to 93.92 million VND/tael.

The price of SJC gold bars at the end of the week was at 97.4 million VND/tael, down 300,000 VND/tael compared to March 21 and down 3 million VND/tael compared to the peak.

The buying price is 94.4 million VND/tael. The difference between buying and selling price is up to 3 million VND/tael.

Meanwhile, the price of 9999 gold rings at SJC Company fell to 97 million VND/tael, down 3.3 million VND/tael from the peak, while the buying price was at 94.3 million VND/tael.

At PNJ Company, the selling price of gold rings decreased to 98.3 million VND/tael, buying price 95.7 million VND/tael.

At Bao Tin Minh Chau Company, the price of gold rings is also at 98.5 million VND/tael, buying at 95.8 million VND/tael.

Compared to the converted world gold price, the domestic gold price is 3.48 million VND/tael higher.

Buying gold now has the potential to temporarily hit the peak.

Talking to Tuoi Tre Online , expert Tran Duy Phuong said that the recent hot gold price was due to tariff tensions and investors' concerns about a trade war causing global economic instability. This has pushed the world gold price up continuously in the past two months.

However, it is likely that tensions will ease in the coming time after dialogues, tariff barriers will be removed and interest rate cuts will end. This will be a disadvantage for gold prices.

Last weekend, the world gold price plummeted due to investors taking profits. But if the above forecasts happen, the world gold price could fall by up to 200 USD/ounce, causing the domestic gold price to fall by about 5 million VND/tael compared to the current price.

Not to mention that at that time the difference between domestic and world gold prices will decrease, at that time the domestic gold price can drop to 89-90 million VND/tael.

For those who intend to buy gold at this time, expert Tran Duy Phuong said it is quite risky because buying gold at this time has the possibility of temporarily peaking for a few months before there is any hope of escaping. Therefore, consider the appropriate time.

In the short term, there are many different forecasts. Expert Tran Duy Phuong said that next week falls at the end of the month and the end of the quarter, the possibility of investment funds taking profits, so the world gold price will be under pressure to decrease.

However, according to Kitco's survey results, 39% believe gold prices will continue to increase, 28% predict prices will decrease, and the rest believe gold prices will remain stable.

An online survey on Main Street found that 59% expected gold prices to rise, 22% said they would fall and the rest said they would stay flat next week.

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