Gold price today 2-5: Many different predictions

2 min read

On the morning of May 2, SJC gold price was traded around 55.42 million dong / purchased volume, 55.65 million dong / sold volume by some businesses, unchanged from yesterday.

The price of 24K gold jewelry listed for buying was 51.65 million dong / tael, sold out 51.95 million dong / tael, about 3.7 million dong / tael lower than SJC gold.

On the international market, today’s gold price decreased slightly

Today’s gold price of the world closed the trading week at 1,769 USD / ounce, decreased slightly from the previous session and increased less than 10 USD / ounce compared to the time of gold price in early April.

During the month, gold prices were approximately $ 1,790 / ounce at a time, but could not reach $ 1,800 / ounce. And the results on next week’s gold price trend made by Kitco continue to surprise.

If two weeks ago, at this survey, there was no opinion of market analysts that gold prices will fall, then this time is the opposite. For the first time in history, at a Wall Street survey, no analyst opinion said that the price of gold would rise.

Specifically, there are 15 market analysts on Wall Street responding to a Kitco survey, of which 53% of respondents said gold prices fell, 47% said gold prices were flat and no one said gold prices rose.

At the Main Street online survey, investors were optimistic with more than 954 investors responding, of which 54% thought the price of gold would rise, 26% said the price of gold fell and the rest predicted the price of gold would go sideways.

Gold prices are being strongly competitive by other investment channels with more attractive returns such as stocks, digital currencies like Bitcoin or other commodities. Some people even said that the gold price could retest the threshold of 1,745 USD / ounce or close to 1,720 USD / ounce in the short term.

However, the long-term bullish outlook for precious metals is clear. Previously, as Nguoi Lao Dong reported, analysts said that in the medium and long term than in May and in the coming time, gold prices will be supported by rising inflation when the US economy recovers and The US Federal Reserve has clearer policies to stimulate the economy … By the end of this year, the price of gold is predicted to reach $ 1,900 / ounce.

By the end of May 1-5, SJC gold price was commonly traded around 55.25 million / purchased volume, 55.65 million / tael. Currently, the world gold price converted at the listed exchange rate is about 49.4 million dong / tael, about 6 million dong / tael lower than the price of SJC.

Thai Phuong. Photo: Lam Giang

Source: nld.com.vn – Translated by fintel.vn