SJC gold price surges in the afternoon of February 5th

In the early afternoon of February 5th, the price of SJC gold suddenly reversed and increased by around 200-400 thousand dong per tael compared to this morning. Prior to this, the gold had sharply decreased by nearly 1 million dong per tael during the last two trading days of the previous week.

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Specifically at Saigon Jewelry Company, the selling price of SJC gold is listed at 76.2-78.4 million VND/tael, an increase of 300,000 VND/tael compared to this morning. The price of plain 9999 gold rings remains unchanged at 63.2-64.4 million VND/tael.

DOJI Group also increased 200,000 VND/tael for SJC gold to 76.05-78.35 million VND/tael. Plain round rings remain at 63.85-65.1 million VND/tael.

Bao Tin Minh Chau also adjusted an increase of 400,000 VND/tael in both buying and selling directions to 76.25-78.35 million VND/tael for SJC gold.

In the international market, spot gold price is at 2,028 USD/ounce, a decrease of about 10 USD/ounce compared to last week.

According to Kitco News survey on gold price forecast for this week, most experts believe that the precious metal will decrease. Specifically, only two experts, equivalent to 17%, predict that gold prices will increase this week, while 8 analysts, accounting for 66%, predict that gold prices will decrease. Two other experts, accounting for 17%, predict that gold prices will remain stable.

Meanwhile, 123 votes have been cast in Kitco’s online polls, with the majority of investors maintaining an optimistic attitude. 66 investors, accounting for 54%, expect gold to rise this week. Another 27%, equivalent to 22%, predict that prices will be lower; while 30 respondents, equivalent to 24%, hold a neutral view on the short-term prospects of the precious metal.