Heavy losses, potential risks

Update SJC gold price

Domestic SJC gold price closed on June 30, 2024.

SJC gold bar price recorded at DOJI Group. Unit: Million VND/tael. Chart: Giang Linh

Last week, SJC gold price remained stable, but the difference between buying and selling gold was listed at a high level, causing investors to suffer heavy losses.

If you buy gold at DOJI Group on June 23 at VND76.98 million/tael and sell it today (June 30), you will lose VND2 million/tael. Meanwhile, those who buy gold at Saigon Jewelry Company SJC will also have a similar loss.

Currently, the difference between buying and selling gold prices is listed at around 2 million VND/tael. Experts say that this difference is very high, causing investors to face the risk of losing money when investing in the short term.

Price of round gold ring 9999

As of 6:00 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 74.65-75.90 million VND/tael (buy - sell).

Saigon Jewelry Company listed the price of gold rings at 73.95-75.55 million VND/tael (buy - sell).

Bao Tin Minh Chau listed the price of gold rings at 74.68-75.98 million VND/tael (buy - sell).

World gold price

As of 6:00 p.m. today, the world gold price listed on Kitco was at $2,326/ounce.

Gold Price Forecast

World gold prices fell amid a high USD index. Recorded at 6:00 p.m. on June 30, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, stood at 105,530 points.

Experts are giving mixed views on the short-term price of gold. Everett Millman, market analyst at Gainesville Coins, predicts that gold will continue to be stuck until "something shakes up the market as a whole."

On the contrary, Marc Chandler - General Director at Bannockburn Global Forex - said that after a solid performance this week, gold will likely increase in price next week.

“Gold recovered from below $2,300 an ounce last Wednesday to Thursday to recover back to $2,340 an ounce by the end of the week, which has completely erased last week’s losses.

Meanwhile, Phillip Streible, chief market strategist at Blue Line Futures, is bullish on gold, but says now is not the time to invest. "Don't chase the market at these levels," Streible said.

Twelve Wall Street analysts participated in the Kitco News gold survey this week. Four analysts, or 33%, see gold prices higher next week. Two analysts, or 17%, see prices falling. The remaining six, or exactly 50%, are neutral on gold prices in the short term.

Meanwhile, 178 votes were cast in Kitco's online poll. Main Street investors have mixed views on gold's near-term outlook.

Eighty-six retail traders, or 48 percent, expect gold prices to rise next week. Another 50, or 28 percent, expect the precious metal to fall. Forty-two, or 24 percent, expect gold prices to remain flat next week.

Source: https://laodong.vn/tien-te-dau-tu/cap-nhat-gia-vang-chot-phien-306-thua-lo-nang-ne-rui-ro-tiem-an-1359855.ldo