Heavy losses after one week

If an investor bought gold at DOJI Group on July 28th at 79.5 million VND/ounce and sold it today (August 4th), they would lose 1.2 million VND/ounce. Meanwhile, those who bought gold at Saigon Jewelry Company (SJC) would also lose 1.2 million VND/ounce.

Currently, the difference between the buying and selling price of gold is listed around 2 million VND per tael. Experts believe that this difference is very high, posing a risk of losses for investors in the short term.

Price of 9999 pure gold ring

As of 6 PM today, the price of 9999 Hung Thinh Vuong gold rings at DOJI is listed at 76.40 - 77.55 million VND/ounce (buying price - selling price); an increase of 600,000 VND/ounce in the buying price and an increase of 500,000 VND/ounce compared to the closing price of last week's trading session.

Saigon Jewelry Company listed the price of gold rings at 76.15-77.55 million VND/ounce (buying price - selling price); an increase of 650,000 VND/ounce in the buying price and an increase of 550,000 VND/ounce compared to the closing price of last week's trading session.

Bao Tin Minh Chau listed the price of gold rings at 76.32 - 77.52 million VND/ounce (buying price - selling price); an increase of 440,000 VND/ounce in both buying and selling prices compared to the closing price of last week's trading session.

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

World gold prices

As of 8 PM today, the world gold price listed on Kitco is at $2,443.1 per ounce, an increase of $47.2 per ounce compared to the close of trading last week. The precious metal is trending downwards, but remains at a high level.

Gold price forecast

Global gold prices remained high as the US dollar index declined. At 7:30 PM on August 4th, the US Dollar Index, which measures the fluctuations of the greenback against six major currencies, stood at 102.999 points (down 1.16%).

Gold has experienced one of its strongest price surges of the year this week. Kitco News' latest weekly gold survey shows that a majority of investors expect the precious metal to continue rising next week. Meanwhile, experts also believe in gold's upward trajectory.

This week, 14 analysts participated in Kitco News' Gold Survey. Wall Street optimism about gold surged after stocks were volatile amid economic and geopolitical threats.

Eleven experts predict that gold prices will rise further next week. Meanwhile, only one predicts a decrease. The remaining two analysts predict that gold prices will remain stable next week.

Meanwhile, 191 votes were cast in Kitco's online poll. 140 investors expect gold prices to rise next week. 28 others predict gold prices will fall. Only 23 forecast gold prices to remain unchanged.

Adrian Day, president of Adrian Day Asset Management, predicts gold prices will rise higher next week amid a weakening US economy and an increased likelihood of interest rate cuts. Speaking at a press conference this week, Federal Reserve Chairman Jerome Powell expressed eagerness to cut interest rates. Day stated that recent data releases have given the central bank further reason to pivot its policy.

Senior commodities broker Bob Haberkorn of RJO Futures believes gold will rise higher next week. He explains that this week's gold sell-off was short-lived. Recession fears and weak jobs data have pushed gold higher, and prices will continue to climb higher next week, potentially surpassing $2,500 per ounce once again.

Meanwhile, George Milling-Stanley, a State Street expert, believes that the current economic and political situation is supporting gold prices, and that prices could reach $2,500-$2,700 per ounce if the US dollar continues to weaken due to the Fed's interest rate policy.