Gold jewelry on display.
Gold prices remain stable with slight variations across different brands.
Leading jewelry brands in Vietnam, such as Bao Tin Minh Chau, PNJ, DOJI, and SJC, have updated their gold ring prices. Despite similar selling prices, there’s a notable difference of up to VND 750,000 per tael in the buying prices offered by these brands.
Specifically, Bao Tin Minh Chau currently lists their gold ring prices at VND 82.68-83.58 million per tael. PNJ follows closely with a range of VND 82.7-83.6 million. DOJI and SJC also adjust their rates, quoting VND 82.75-83.60 million and VND 82.0-83.4 million, respectively.
SJC gold prices remain unchanged, holding steady at VND 82.0 million for buyers and VND 84.0 million for sellers.
International gold prices experience a slight dip.
In the international market, gold prices took a slight dip, falling by approximately $10 per ounce compared to the previous week’s closing. As of now, the spot gold price stands at $2,645 per ounce.
According to a recent Kitco News survey, out of 16 participating analysts, only a small number anticipated a short-term increase in gold prices. The majority, consisting of seven experts (44%), predicted gold prices to rise, while three analysts (19%) foresaw a decline. The remaining six (37%) believed prices would hold steady or opted to remain neutral on the market for the week.
Experts approach the gold price forecast for the coming week with caution, suggesting potential declines or range-bound trading. Colin Cieszynski, Chief Strategist at SIA Wealth Management, maintains a neutral stance, citing that while strong US job reports may pressure gold, complex geopolitical tensions and the upcoming US elections could provide support.
Adrian Day, President of Adrian Day Asset Management, expects gold to stabilize after its impressive two-month rally. He doesn’t foresee a significant price drop and suggests that returning Chinese buyers post-holiday could boost the market.
Contrarily, James Stanley, Strategist at Forex.com, predicts an upward trajectory for gold prices in the week ahead. He attributes the recent strength in the US dollar to only causing a minor correction in gold. Stanley believes that as long as the Federal Reserve maintains its rate cut plans, gold will retain its bullish prospects.
Other experts, like Jesse Colombo and Sean Lusk, adopt a neutral stance, estimating gold to fluctuate between $2,580 and $2,700 per ounce. They recommend that investors take advantage of price dips to build their positions. In the bigger picture, geopolitical factors and the US economic landscape will continue to play pivotal roles in influencing gold prices in the near future.
The Soaring Price of Gold Rings: Unveiling the Reasons Behind the Surge
The experts are weighing in on the recent surge in gold ring prices, with no signs of slowing down. They are attributing this surge to a multitude of factors, each playing a pivotal role in driving up the price of this precious metal. This unprecedented rise has caught the attention of many, leaving people curious as to what is causing this rapid increase.
The Golden Opportunity: “New Peak Prices for Gold Rings Reach 83.5 Million VND/tael, Leaving Many Regretful for Selling Too Soon”
Many investors sold their gold rings when prices soared to 60 and then 70 million VND per tael. Now, as gold prices continue to reach new heights, these sellers are left watching from the sidelines, hesitant to buy back in.
Is Gold’s Rally Here to Stay?
The domestic gold price has been on a roll lately, with gold rings repeatedly breaking records. Will this scorching hot streak continue?
