Many investors forecast that the world gold price in the beginning of the new year will increase compared to today.
The price of gold bars at the Saigon Jewelry Company (SJC) closed at the end of the year at the purchase price of 60.95 million VND/tael and the selling price of 61.65 million VND/tael. Particularly at Mi Hong Jewelry Company, the purchase price of SJC-branded gold bars on the first day of the new year is 61.2 million VND/tael and sold 61.6 million VND/tael.
Compared to last week, SJC gold bar increased by 500,000 VND/tael on the selling side and continued to maintain the difference between buying and selling at 700,000 VND/tael.
Gold price is expected to increase at the beginning of the new year.
World gold price closed at the end of the week at 1,830.2 USD/ounce, plus more than 20 USD compared to last weekend. The precious metal had some declines at the beginning of the week but increased strongly in the last session of 2021. In the context of complicated disease developments, investors' interest in gold remains when they believe that gold helps to fight inflation and currency volatility.
According to Kitco News' annual outlook survey, the majority of Main Street investors expect gold prices to hit a high in 2022. This year, nearly 3,000 people participated in the company's annual online survey. Kitco. In which, 54% expect the gold price to reach over $2,000/ounce; About 20% expect gold to trade in the range of $ 1,900 - $ 2,000 / ounce and the rest forecast the precious metal will still fluctuate below $ 1,800 / ounce, of which even about 4% of survey respondents think that gold will fall below $1,600/ounce...
Meanwhile, Wall Street analysts have mixed opinions about gold prices in the new year. Some people believe that although the specter of an interest rate increase next year may weigh on gold prices, there is currently a lot of negative information for this market, while many banks are forecasting gold prices for delivery this year. 2022 will run in the range of $1,800 to $2,000 per ounce...
If precious metal goes up to $2,000/ounce, it will be equivalent to about 55.2 million dong/tael (excluding taxes and fees), nearly $70 higher than the current price. However, the domestic gold price is still 11 million dong/tael higher than the world price and if this gap continues, the gold price is forecasted to rise to over 65 million dong/tael.
But sometimes the domestic gold price also goes against the world and this is the "unknown" that will make investors vulnerable to losses even though correctly forecasting the world trend.
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