Will gold price continue to increase today 6-7? Latest forecast from experts

(NLDO) – Gold prices today are expected by both analysts and investors to continue to increase.

On Sunday morning, July 6, today's gold price was listed by companies at 118.9 million VND per tael for buying and 120.9 million VND per tael for selling, an increase of about 1.7 million VND per tael compared to the end of last week.

Meanwhile, 99.99% gold rings and jewelry gold were traded at VND114.3 million/tael for buying and VND116.8 million/tael for selling, an increase of VND1 million/tael compared to the end of last week.

Domestic gold prices rose last week, approaching the 121 million VND/tael mark for SJC gold bars, over 4 million VND/tael higher than gold rings. Domestic gold prices were not only at their highest level for many weeks, but also broadened the gap with world prices.

Although many investors expect that the new policies on gold management recently announced by the State Bank will help cool down gold prices, until now, the precious metal has remained at a high level.

Latest Gold Price Forecast

In the international market, gold prices also recovered strongly after a week of decline. At the end of the week, the world gold price was at 3,337 USD/ounce, up about 63 USD/ounce (equivalent to about 2 million VND/tael) compared to the end of last week. Today's gold price increased after a week of decline.

Gold price today is forecast to continue to increase

Investors and analysts expect gold prices to continue to rise in the coming days, according to Kitco's latest survey on gold price trends. 14 analysts participated in the response, in the survey on Wall Street, with 36% of opinions saying that gold prices will continue to rise; 28% predict gold prices will fall and the remaining 36% said that gold prices will remain flat.

Meanwhile, investors were more optimistic, with 59% of 243 respondents expecting gold prices to continue to rise; only 20% said gold prices will fall and the remaining 21% said gold prices will remain stable.

According to analysis, the market will have many fluctuations next week, in which the US Federal Reserve (FED) will announce the minutes of its June meeting with predictions that the US may soon cut the basic interest rate. In case the US cuts interest rates, the USD weakens, gold prices will benefit. However, some other comments say that the FED's expectation of lowering interest rates is still unclear.

In fact, gold prices have recovered in recent days as the US dollar has remained at a low level for more than three years. Since the beginning of the year, the US dollar index (DXY) has lost more than 10%. Next week, another factor that could impact gold prices is the US tariff policies announced, as the negotiation deadline - July 8 - approaches.

Currently, if converted according to the domestic exchange rate, the world gold price is equivalent to about 106 million VND/tael, which is nearly 15 million VND/tael lower than the price of SJC gold bars.

Source: https://nld.com.vn/gia-vang-hom-nay-6-7-vi-sao-dong-loat-du-bao-tang-tiep-196250705215502684.htm