Gold price today April 6: Sharp drop, why do experts predict it will continue to decrease?

At the end of the week, April 6, SJC gold bar prices were listed by businesses at around 97.1 million VND/tael for buying and 100.1 million VND/tael for selling - down 600,000 VND/tael compared to the end of last week.

Compared to the all-time peak of 102.8 million VND set last week, each tael has lost about 2.7 million VND/tael.

Similarly, the price of 99.99 gold rings and jewelry gold of all kinds is listed by businesses at 97 million VND/tael for buying and 100 million VND/tael for selling - down 400,000 VND/tael compared to the end of last week.

Domestic gold prices fluctuated strongly last week, with an amplitude of up to millions of VND. The market was also more vibrant when gold prices continuously broke old peaks and set new peaks. Despite the record gold price, many people still bought gold at over 102 million VND/tael.

Gold price today decreased about 2.7 million VND/tael from the record peak

Gold prices today decreased following the downward trend of the world . In the international market, the price of gold closed the trading week at 3,038 USD/ounce, down about 50 USD/ounce compared to the end of last week. Compared to the record peak, the price of gold decreased by about 130 USD/ounce (about 4 million VND/tael).

After a volatile week, gold prices have become unpredictable. While analysts believe the precious metal will continue to fall, investors are more optimistic, expecting prices to rise again, according to the results of the Kitco Gold Survey for next week.

Specifically, in a survey on Wall Street, 16 analysts participated in the response, of which only 31% said that gold prices would increase; up to 50% said that gold prices would decrease and the remaining 19% predicted that gold prices would remain unchanged. This is a rare week when experts predicted that gold prices would go down.

In contrast, in an online survey on Main Street, 273 investors responded, of which 61% said gold prices would rise again, only 26% said gold prices would fall and 13% predicted gold prices would stay the same.

SJC gold bar price fluctuated strongly last week

According to analysts, the market will have more information related to economic data released by the US next week on the US inflation situation, the US Federal Reserve meeting minutes and consumer sentiment survey. Experts are predicting the possibility of further decline in gold prices.

Although central banks' continuous purchases of gold have pushed prices to record highs, many private investors have viewed gold as a risky asset in recent trading sessions.

Gold is under selling pressure along with the stock market, despite the weakening US dollar and sharp decline in interest rates. Therefore, the price of gold may fall further to $3,000/ounce in the coming days.

Currently, the world gold price converted according to the listed exchange rate is about 95 million VND/tael.

Source: https://nld.com.vn/gia-vang-hom-nay-6-4-lao-doc-manh-vi-sao-chuyen-gia-du-bao-con-giam-tiep-196250406090256676.htm