Massively increasing, should I buy? - Vietnam.vn (2024)

SJC gold bar price

As of 9:30 a.m., SJC gold price was listed by DOJI Group at 87,7-89,8 million VND/tael (buy - sell). The difference in buying - selling price is at 2,1 million VND/tael.

Compared to yesterday's opening session, SJC gold price at DOJI increased by 300.000 VND/tael in both buying and selling directions.

SJC gold price at Saigon Jewelry Company - SJC is listed at 87,7-90,4 million VND/tael (buy - sell). The difference in buying and selling price of SJC gold is at 2,7 million VND/tael.

Compared to yesterday's opening session, the price of SJC gold at Saigon Jewelry Company - SJC increased by 300.000 VND/tael purchased and increased by 500.000 VND/tael sold.

Meanwhile, Bao Tin Minh Chau listed SJC gold price at 87,85-90,10 million VND/tael (buy - sell). The difference in buying and selling price of SJC gold is 2,25 million VND/tael.

Compared to yesterday's opening session, SJC gold price at Bao Tin Minh Chau increased by 400.000 VND/tael for buying and increased by 700.000 VND/tael for selling.

The difference between buying and selling prices of gold is anchored at a high level. This causes investors to face the risk of loss when making short-term investments.

Gold ring price 9999

As of 9:00 a.m. today (May 18.5), the price of 9999 Hung Thinh Vuong round gold ring at DOJI is listed at 76,15-77,75 million VND/tael (buy - sell).

Compared to yesterday's opening session, the 9999 gold ring price at DOJI was adjusted to increase by 550.000 VND/tael for buying and increasing by 650.000 VND/tael for selling.

Saigon Jewelry Company lists gold ring prices at 75,6-77,2 million VND/tael (buy - sell).

Compared to yesterday's opening session, the price of 9999 gold ring at Saigon Jewelry Company increased by 400.000 VND/tael in both buying and selling directions.

Bao Tin Minh Chau listed the gold ring price at 76,18-77,58 million VND/tael (buy - sell).

Compared to yesterday's opening session, the price of 9999 gold ring at Bao Tin Minh Chau increased by 700.000 VND/tael in both buying and selling directions.

World gold price

As of 9:30 a.m., the world gold price listed on Kitco was at 2414 USD/ounce, up 33,8 USD/ounce compared to the opening of the previous trading session.

Gold price forecast

World gold prices increased sharply despite the increase in the USD index. Recorded at 9:30 a.m. on May 18.5, the US Dollar Index measuring the fluctuation of the greenback with 6 major currencies was at 104,370 points (up 0,02%).

In a recent report, World Gold Council (WGC) experts forecast that gold will continue to increase, driven by safe haven demand due to concerns about geopolitical tensions and strong demand from emerging markets.

WGC expects gold to rise 8% year-on-year in 2024. The main factor driving the metal's rise is stronger demand from emerging markets and developing economies amid Geopolitical instability is increasing.

As a safe-haven asset, gold often increases in price during periods of increased geopolitical tensions and policy uncertainty. Record gold purchases by central banks, led by China, India and Türkiye, boosted gold demand in the first quarter of 2024.

CEO Julia Khandoshko of brokerage company Mind Money said that she sees a lot of potential for gold's price increase. Khandoshko added that the tone of the US Federal Reserve (FED), especially if there is a move to cut interest rates or there is a clear plan to cut interest rates, is expected to push gold prices up.

Escalation of conflict in the Middle East will also support gold. As geopolitical risks increase, stronger demand will push gold prices higher.

Khandoshko also expects gold demand from central banks to diversify foreign exchange reserves will be the factor keeping the precious metal's long-term rise.

Sean Lusk, co-head of commercial hedging at Walsh Trading, told Kitco News that the combination of high inflation, massive debt issuance and rapid central bank money printing is pushing market participants market in precious metals and other commodities.

“We printed too much money and now you see the results of that,” he said. Besides buying stocks when prices fall, big money is pouring into metals as a hedge against inflation. Economies around the world are doing the same thing."

ROTH Capital Partners analysts predict gold prices will rise even higher in the coming months. ROTH Capital Partners' chief technical strategist JC O'Hara said that gold appears ready to move higher and beyond the highs set in April. This expert predicts that gold could surpass 4 USD/ounce.