ANTD.VN - Both experts and investors maintain a cautious stance and lack consensus when forecasting the outlook for gold prices next week.
During the past week, domestic and international gold prices fluctuated within a narrow range. SJC gold at Saigon Jewelry Company ended the week at VND74.20 - 76.70 million/tael. Compared to the previous weekend, the selling price of SJC gold bars remained unchanged, while the buying price increased by VND600,000; the difference between buying and selling prices therefore narrowed a bit.
At other businesses, the gold price ended the week differently. Specifically, at DOJI Group, SJC gold closed the week at 73.90 - 76.65 million VND/tael; PNJ at 74.40 - 76.80 million VND/tael; Phu Quy SJC 74.30 - 76.70 million VND/tael; Bao Tin Minh Chau 74.35 - 76.65 million VND/tael...
For 9999 gold, the increase during the week was about 100 thousand VND/tael. Accordingly, SJC 99.99 rings were listed at the end of the week at 62.75 - 63.95 million VND/tael; PNJ gold 62.75 - 64.05 million VND/tael; Bao Tin Minh Chau's Thang Long Dragon Gold 63.73 - 64.83 million VND/tael...
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Gold price outlook next week unclear |
In the world, last week, gold prices also fluctuated within a narrow range of about 10 USD per ounce and ended the week with a decrease of 0.54% to 2,018.80 USD/ounce.
Gold prices are struggling to find a direction, as US economic data last week showed a contrast with continued declines in inflation but stronger economic activity, leaving the market uncertain about when the Fed will start cutting interest rates.
There will be more important data in the coming week, including Friday's jobs report. The Bank of England (BoE) will also hold its first monetary policy meeting of the year. The BoE is facing many difficulties as the UK economy slows and inflation remains high.
Kitco News' latest weekly gold survey shows that both professionals and retail traders remain cautious, with no clear consensus on gold's direction in the wake of the key data.
Of the 14 Wall Street analysts who participated in the Kitco News Gold Survey, five, or 36%, see gold prices higher next week; while three, or 21%, see gold prices falling. Six, or 43%, see gold prices trading sideways next week.
Retail traders were slightly more bullish but overall indecisive in Kitco’s online poll. 48% of respondents expect gold to rise next week, while 29% predict lower prices, and 23% are neutral on the precious metal’s near-term outlook.
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