Gold Prices Today
Specifically, spot gold prices are at USD 2,337.91 per ounce. Futures gold prices last traded at USD 2,349.6 per ounce.
Gold climbed near USD 2,340 per ounce on Friday, the final day of trading for the week, as investors continued to assess the Federal Reserve’s potential path for monetary policy after U.S. PCE data came in largely as expected.
The core PCE, the Fed’s preferred gauge of underlying inflation, also rose 0.3% in March, matching market forecasts. The annual inflation rate, meanwhile, came in a touch hotter than expected at 2.7%, and the core annual inflation rate held steady at 2.8%.
Most investors still wager the first rate cut will come in September, but now see just one 25 basis point cut for the entire year.
Rising interest rates reduce the appeal of non-yielding bullion. For the week, bullion was poised for a 2% decline, its first weekly loss in six.
Today’s Gold Price Movements
+ Domestic Gold Price
At 6 a.m. on April 28th, the price of gold bars at Doji was listed at VND 82.60 million per tael for buying and VND 84.80 million per tael for selling.
At the same time, the price of gold at SJC was listed at VND 83.25 – VND 85.10 per tael (sell-buy).
+ International Gold Price
The price of gold was listed on Kitco at USD 2,337.91 per ounce. Futures gold prices last traded at USD 2,349.6.
Gold Price Forecast
According to Jim Wyckoff, a senior analyst at Kitco Metals, if inflation data comes in hot, the Fed will have a harder time easing back on rates. Gold prices could drop below USD 2,200 an ounce.
Tai Wong, an independent expert in the United States, said persistent elevated inflation raises the likelihood that the Fed will maintain rates. The current gold price depends heavily on buying and selling activities of investors.
He predicts that in the short term, gold could trade in a range of USD 2,300-2,400 an ounce.
In addition, central banks have a voracious appetite for gold, and that’s certainly not slowing down.
