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Steady on the high threshold

At 6 am this morning, April 11 (Vietnam time), the world gold price on the Kitco floor traded at 1,944 USD/ounce, almost unchanged compared to the early hours of the morning.

Many analysts have noted the resilience of gold price the world, despite the 10-year US government bond yields last week increased to the highest level in 3 years.

Gold price today 11/4: Steady above the high threshold - 1

Gold price stays above the high threshold.

Yields rose as US government bonds sold off as the Federal Reserve proposed to raise interest rates by 50 basis points at the next two meetings.

The US central bank is also expected to begin reducing its balance sheet after its monetary policy meeting in May.

Domestic gold price

At the end of the trading session on April 10, Saigon Jewelry Company listed the price of SJC gold at 68.65 million VND/tael (buying in) and 69.47 million VND/tael (sold out).

DOJI Group listed the gold price at 68.6 million dong/tael (buying in) and 69.4 million dong/tael (sold out).

Gold price forecast

Wall Street’s gold price survey on Kitco News shows that 10 analysts (about 63%) expect gold prices to increase next week; The remaining 6 people (38%) gave neutral opinions.

According to an online Main Street poll, 478 respondents (57%) expect gold prices to rise next week. Another 198 people (23%) see prices falling and 166 people (20)% see gold moving sideways.

There are several factors that could trigger another rally in gold, said Craig Erlam, senior market analyst at Oanda. It is inflation that continues to rise above current expectations, the collapse of Ukraine-Russia negotiations or a recession.

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