A massive loss of 12 million in just one week.

Meanwhile, Saigon Jewelry Company (SJC) listed the price of SJC gold at 78.3-79.8 VND/ounce (buying price - selling price).

Compared to the closing price of last week's trading session, the price of gold at Saigon Jewelry Company (SJC) increased by 800,000 VND/ounce for the buying price and 300,000 VND/ounce for the selling price.

The difference between the buying and selling price of SJC gold at Saigon Jewelry Company (SJC) is around 2 million VND per tael.

Last week, SJC gold prices rose sharply; however, the buy-sell spread remained high, resulting in significant losses for investors.

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 gold rings

This morning, the price of 9999 Hung Thinh Vuong gold rings at DOJI was 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

At the close of trading this week, the world gold price listed on Kitco was $2,433.3 per ounce, an increase of $47.2 per ounce compared to the close of trading the previous week.

Gold price forecast

Global gold prices rose sharply last week amid a strong US dollar index. As of 6:00 AM 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%).

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 said that recent data releases have given the US central bank further reason to pivot its policy.

Sharing the same view, senior commodities broker Bob Haberkorn of RJO Futures believes gold will rise higher next week. He explained that the gold sell-off this week was short-lived. Fears of recession and weak job figures have pushed gold higher, and prices will continue to rise next week, potentially surpassing $2,500 per ounce once again.

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.

This week, 14 analysts participated in Kitco News' Gold Survey. Wall Street optimism about gold surged after stocks fluctuated 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.