Close the week increased very strongly

(NLDO) – The price of SJC gold bars and gold rings increased sharply at the end of the week, with gold bars approaching 89 million VND/tael.

On January 26, the gold price listed by businesses today was VND86.8 million/tael for buying and VND88.8 million/tael for selling, an increase of about VND2 million/tael compared to the end of last week. This is a very strong increase and is the 5th consecutive week that the price of gold bars has increased, totaling about VND5 million/tael.

At this time, banks and some companies start to close for Tet. Gold prices fluctuate and differ between gold trading units.

A rather surprising development is that on the free market, the price of SJC gold bars is traded at a lower level than at other brands, around 86.7 million VND/tael for buying and 87.5 million VND/tael for selling.

Similarly, gold prices also jumped for 99.99 gold rings and jewelry gold. PNJ and SJC companies bought plain gold rings for VND86.3 million/tael and sold for VND88 million/tael; some other gold shops bought gold rings for VND87 million and sold for VND88.5 million/tael. Compared to the end of last week, the price of gold rings increased by about VND1.5 million/tael.

Gold price today increased sharply last week

Domestic gold prices continue to rise as world prices approach all-time highs. At the end of the trading week, world gold prices closed at $2,771/ounce, up $70/ounce compared to the end of last week (equivalent to nearly VND800,000/tael).

During the week, there was a time when the price of gold was only a few dollars away from the all-time high of $2,790/ounce as investors poured capital into the precious metal. A notable development is that despite having a series of consecutive weeks of increases, reaching the highest level in the past few months, the price of gold continues to be expected to increase. Both analysts and investors predict that this Tet, the price of gold will still cause surprises, according to the survey results of Kitco.

Specifically, in a survey on Wall Street, 10 analysts participated in the response, of which up to 80% of the opinions predicted that gold prices would increase in the coming days. Only 10% predicted that gold prices would decrease and the remaining 10% said that gold prices would go sideways.

Gold price today reached its highest level in many weeks

Similarly, in an online survey on Main Street, 169 investors responded, of which 70% said gold prices would go up, only 15% predicted gold prices would fall and the rest predicted gold prices would go sideways.

This week, the international market has a lot of economic information that will influence the world gold price such as the interest rate management decisions of the US Federal Reserve (FED), the European Central Bank (ECB) or reports on US consumer confidence, home sales in the US... The results of these meetings will affect the world gold price. In the domestic market, this week the market is on the Lunar New Year holiday but the gold price is forecast to fluctuate according to the world price.

Currently, the world gold price converted according to the listed exchange rate is about 84.5 million VND/tael.

Source: https://nld.com.vn/gia-vang-hom-nay-26-1-chot-tuan-tang-rat-manh-196250126074344764.htm