Gold bar trading prices were mixed in the first session of the week, increasing and decreasing by 50,000 VND each, fluctuating around 55.95-56.45 million VND.
DOJI Jewelry Group this morning adjusted the buying price to 55.95 million dong, up 50,000 dong per tael compared to the last session of the week. Selling price decreased by 50,000 VND to 56.35 million VND.
At 9:00, Saigon Jewelry Company (SJC) listed the same buying price as DOJI, but sold up to 56.45 million dong.
The domestic gold price struggled around 56 million dong in the context that the world precious metal market did not have many changes. Each ounce of gold is approaching $ 1,929.
Kitco’s survey with investors, analysts and bank leaders shows that gold prices are expected to increase further this week, because the US presidential election still contains many uncertainties. 76% of respondents expected an increase in the price of gold, 6% thought that the price would decrease and the rest expected to go sideways.
Investor sentiment is positive, but analysts still wonder if this momentum is enough to pull the price of gold back to $ 2,000 in the short term.
“We see short-term upside potential in a long-term downtrend. However, we need to observe more to see if this rally lasts or not,” said Darin Newsom, director of Darin Newsom Analysis.