Loss of 33 million VND per tael after one week

SJC gold bar price

At the end of the week's trading session, DOJI Group listed the price of SJC gold at 76.5-78.5 million VND/tael (buy - sell).

Compared to the closing price of last week's trading session, gold price at DOJI decreased by 1.8 million VND/tael for buying and decreased by 1.3 VND/tael for selling.

The difference between buying and selling prices of SJC gold at DOJI Group is at 2 million VND/tael.

Meanwhile, Saigon Jewelry Company SJC listed the price of SJC gold at 76.5-78.5 VND/tael (buy - sell).

Compared to the closing price of last week's trading session, the gold price at Saigon Jewelry Company SJC decreased by 1.8 million VND/tael for buying and decreased by 1.3 VND/tael for selling.

The difference between buying and selling price of SJC gold at Saigon Jewelry Company is at 2 million VND/tael.

Last week, the price of SJC gold fell sharply, combined with the high difference between buying and selling gold, causing investors to suffer heavy losses.

If you buy gold at DOJI Group on August 4 at VND79.8 million/tael and sell it today (August 11), you will lose VND3.3 million/tael. Similarly, those who buy gold at Saigon Jewelry Company SJC will also lose VND3.3 million/tael.

Currently, the difference between buying and selling gold prices is listed at around 2 million VND/tael. Experts say that this difference is very high, causing investors to face the risk of losing money when investing in the short term.

9999 gold ring price

This morning, the price of 9999 Hung Thinh Vuong round gold ring at DOJI was listed at 76.35-77.60 million VND/tael (buy - sell); down 50,000 VND/tael for buying and up 50,000 VND/tael compared to the closing price of last week's trading session.

Saigon Jewelry Company listed the price of gold rings at 76.25-77.6 million VND/tael (buy - sell); an increase of 100,000 VND/tael for buying and an increase of 50,000 VND/tael compared to the closing price of the previous trading session.

Bao Tin Minh Chau listed the price of gold rings at 76.38-77.58 million VND/tael (buy - sell); an increase of 60,000 VND/tael for both buying and selling compared to the closing price of the previous trading session.

In recent sessions, the price of gold rings has often fluctuated in the same direction as the world market. Investors can refer to the world market and expert opinions before making investment decisions.

World gold price

At the close of the weekly trading session, the world gold price listed on Kitco was at 2,430 USD/ounce, down 3.3 USD/ounce compared to the close of the previous week's trading session.

Gold Price Forecast

World gold prices increased last week amid a high USD index. Recorded at 8:00 a.m. on August 11, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 102.980 points (down 0.04%).

The latest Kitco News weekly gold survey shows that most industry experts see prices moving sideways next week, while a majority of investors expect the precious metal to rise.

Ten analysts participated in the Kitco News gold survey. The majority of experts expect gold to be stable next week. Six experts, or 60%, see gold prices trending sideways, while the remaining 40% see gold rising next week. No one predicts prices will fall.

There were 210 votes cast in Kitco’s online poll. Most Main Street investors remained bullish. 130 retail traders expect gold prices to rise next week. Another 45 predict lower prices. Meanwhile, 35 see prices moving sideways next week.

“I am neutral on gold next week. After ten days of volatility, the market could stabilize,” said Colin Cieszynski, chief market strategist at SIA Wealth Management.

Sharing the same view, Marc Chandler - General Director at Bannockburn Global Forex also predicted that gold prices will tend to move sideways: "I think the market may have exaggerated the possibility of a 50 basis point cut by the US Federal Reserve (FED).

Meanwhile, Adrian Day - President of Adrian Day Asset Management expects gold prices to rise higher: "Market expectations for Fed rate cuts are constantly changing and so are gold prices. But there is little doubt that there will be at least one rate cut in the near future. That will be a signal for investors to pay more attention to gold, especially when the US economy shows signs of falling into recession."

Similarly, James Stanley, senior market strategist at Forex.com, also expects gold prices to rise next week.