The survey results of the world gold price movement next week by Kitco News show that the rate of support for the uptrend has suddenly dropped sharply.
Specifically, the proportion of experts who think that the price of gold is going up sharply decreased from 89% last week to 29% this week; The percentage of experts predicting a decline in gold prices increased from 11% to 50%. This week, the percentage of experts holding a neutral opinion also increased to 21%, from 0% last week.
As for the results of an online survey on the market, the percentage of investors who support the gold price increase next week also decreased from 71% to 55%; The percentage of gold price prediction also inched up from 17% to 32%; The remaining percentage that gold prices go sideways is 14%.
Efforts to recover at the end of the week, but the world gold price still could not conquer the level of 1,800 USD.
Closing the last session of the week, the world gold price stopped at 1,792.60 USD/ounce, the lowest closing level in 6 weeks.
For the whole week, the world gold price fell sharply by 2.5%, the strongest weekly decrease since November 2021.
Gold fell sharply amid a 1.3% gain in the dollar for the whole week, leading investors to believe that the US Federal Reserve (Fed) is ready for a rate hike in March.
At a press conference after the two-day meeting ending on January 26, Fed Chairman Jerome Powell did not rule out the possibility of raising interest rates at every meeting of the year and said that action is needed.
At the close of the last trading session of the week, the domestic gold price dropped sharply, but in general, in the last trading week of the year, the domestic gold price still went against the world trend and increased sharply.
Specifically, the price of SJC gold was listed by Saigon Jewelry Company for 61.8-62.52 million VND/tael at the close of last week's session; Doji gold price in Hanoi market also closed the week and closed the year of the New Ox at 61.75-62.50 million VND/tael.Meanwhile, the price of 24K Dragon Thang Long gold of Bao Tin Minh Chau recovered strongly in the last session of the week by 320,000 dong and closed at 53.24-53.99 million dong/tael.
