Surprise about gold price forecast next week

(NLDO) – For the first time in many months, experts predict that gold prices will continue to decrease today after "evaporating" 100 USD/ounce last week.

On March 2, the price of SJC gold bars was listed by some businesses in Ho Chi Minh City at 88.5 million VND/tael for buying and 90.5 million VND/tael for selling, down 1.2 million VND/tael compared to the end of last week.

Over the past week, the market has seen gold prices fluctuate strongly in a continuously downward direction.

Gold prices also closed the week with a sharp decrease after many consecutive days of increase. If calculated from the record peak of 93.1 million VND/tael set in February, the gold price has decreased by about 2.6 million VND/tael.

Similarly, the price of 99.99 gold rings and jewelry gold also had a week of strong fluctuations and closed at 88.5 million VND/tael for buying and 90.4 million VND/tael for selling, down 1 million VND/tael compared to the end of last week.

Both SJC gold bar and gold ring prices fell sharply last week when world gold prices reversed and plummeted.

Today's gold price on the international market closed the trading week at 2,858 USD/ounce, down 77 USD/ounce (about 2.4 million VND/tael) compared to the end of last week.

This is a very sharp decrease in gold prices last week, decreasing faster than the prices of SJC gold bars and gold rings.

Giá vàng hôm nay 2-3: Bất ngờ về dự báo giá vàng tuần tới- Ảnh 2. — Gold price today closed the week with a sharp decrease

Compared to the record of 2,954 USD/ounce, the gold price has evaporated "hundreds of USD/ounce" (equivalent to about 3.1 million VND/tael).

A notable development is that for the first time in many weeks, analysts predict that gold prices will continue to fall – contrary to expectations of gold prices rising in previous weeks.

According to Kitco's survey on gold price trends on Wall Street, 14 analysts participated in the survey, of which only 21% said that gold prices will increase again; up to 64% said that gold prices will continue to decrease and the remaining 14% predicted that gold prices will remain stable.

More optimistically, of the 138 investors who responded online on Main Street, 45% predicted gold prices would rise; 28% predicted gold prices would fall and the rest predicted the precious metal would move sideways in the coming days.

According to analysts, gold prices marked the first weekly decline in more than 2 months without any notable impact factors, mainly under pressure as investors took profits after a period of hot growth from the end of 2024 until now.

The US dollar index rebounded strongly at the end of the week to 107.5 points, also putting pressure on the precious metal. Gold prices fell about 4% after a series of increases of up to 12% since the beginning of 2025.

Currently, the world gold price converted according to the listed exchange rate is about 88.7 million VND/tael.