Gold prices today were quite complicated. Although opening close to the previous session's closing level, this precious metal witnessed a significant increase throughout the trading session. This shows that investors are still quite cautious in the face of unstable developments in the global market.
Geopolitical tensions in the Middle East combined with concerns about the US economic situation have continued to boost safe-haven demand, sending gold prices higher.
However, the strengthening of the US dollar has somewhat limited the increase of gold. Investors are considering between holding gold to deal with risks and profit opportunities from other investment channels.
Illustration: Pinterest.
Gold price movements today
+ Domestic gold price
At 6:00 a.m. on October 26, the price of gold bars at Doji and SJC was listed at 87 - 89 million VND/tael (buy - sell), unchanged from early this morning.
The price of gold rings at SJC is at 87 - 88.5 million VND/tael (buy - sell) while at Doji it is 87.9 - 88.9 million VND/tael (buy - sell).
+ International gold price
The world gold price listed on Kitco was at $2,748/ounce, up $14/ounce compared to early this morning. Gold futures last traded at $2,756.4/ounce, up $8.
Gold Price Forecast
Experts say that after the recent surge, gold may face some profit-taking pressure in the short term. In the current environment, the trend of gold is still up and any correction will be a buying opportunity for investors.
WisdomTree commodity strategist Nitesh Shah said that gold investors will now focus on US inflation and economic growth data to better understand the health of the economy, thereby making predictions about the future policy direction of the US Central Bank.
Gold prices continue to benefit from safe-haven demand, with uncertainty ahead of the U.S. election supporting gold, said David Meger, director of metals trading at High Ridge Futures.
Mind Money Company believes that the results of the upcoming US presidential election will be difficult to predict. In the next three months, the price of gold could reach $2,800/ounce and may surpass the psychological threshold of $3,000/ounce.
Source: https://vtcnews.vn/gia-vang-hom-nay-26-10-tiep-tuc-leo-thang-ar903934.html
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