Surveyed at 9.20am this morning (December 7), the price of SJC gold bars at Saigon Jewelry Company Limited (SJC) is at 54.60 – 55.15 million VND / tael, down 100 thousand VND / tael. volume in the selling direction compared to the surveyed price at the end of last week. The difference between buying and selling prices was shortened to 550 thousand dong / tael.

 

Meanwhile, the retail price of Doji gold in Hanoi also decreased by 50 thousand VND / tael in the buying direction and 100 thousand VND / tael sold out, currently being traded at around 54.50-55.20 million VND / tael. amount. The difference between buying and selling prices was at 700 thousand dong / tael.

 

This is the second consecutive decline session of this precious metal. Last week, each amount of SJC gold increased by about 450 thousand dong, equivalent to 0.83% of its value, marking the first week of price increases in a month.

 

On the world market, the spot gold price on Kitco is currently traded at 1,837.6 USD / ounce, down 0.5 USD, or 0.03% compared to the previous session.

 

Converted to the exchange rate at Vietcombank, the world gold price is being traded at 51.4 million dong / tael, about 3.2 million dong / tael lower than the domestic gold price.

 

This week's gold price forecast survey conducted by Kitco shows that market sentiment is quite positive with most of the opinions that the precious metal price will continue to increase.

 

Specifically, up to 71% of experts forecast that the gold price will increase this week while only 7% think that the gold price will decrease and 21% keep a neutral view.

 

The results of the online survey also overwhelmed with 65% of investors thinking that the price of gold would increase, only 20% thinking that the price will decrease and 15% thinking that the price of gold will go sideways.

 

According to analysts, the number of Covid-19 infections will continue to increase, leading to an economic situation that is not able to prosper in the short term will be factors supporting the precious metal market.

 

However, experts also note that in the context of many investment channels are maintaining the excitement, in which Bitcoin is expected to exceed $ 20,000 / Bitcoin will cause capital flows in the market to be dispersed and the channel is hidden. Gold is no longer considered a priority.