Gold price declines at the weekend

At 6am this morning April 23 (Vietnam time), the world gold price on the Kitco floor traded at 1,932 USD/ounce, down 23 USD/ounce compared to the early hours of the morning.

Gold fell, pressured by bond yields and the dollar index edging higher while crude oil prices fell.

The market still receives information about “hawkish” monetary policy from US Federal Reserve Chairman Jerome Powell that the Fed is on a positive tightening path.

In his speech at this meeting on Thursday afternoon, Mr. Powell also reiterated the trend of strong US interest rate hikes in the coming months; It also details the most aggressive approach to curbing inflation.

Traders and investors are expecting the Fed to raise 50 basis points at its meetings in May, June and possibly July.

US Treasury yields rose and stock This country multi-drop after the news.

Domestic gold price

At the end of the trading session on April 22, Saigon Jewelry Company listed the price of SJC gold at 69.9 million dong/tael (buying in) and 70.62 million dong/tael (sold out).

DOJI Group listed the gold price at 69.85 million dong/tael (buying in) and 70.55 million dong/tael (sold out).

Gold price forecast

Managing director at GoldSilver Central, Brian Lan, said that if gold prices fail to conquer $2,000 an ounce, traders can take profits and move money into stocks or even short-term bonds.

Stephen Innes of SPI Asset Management, thinks growth worries economy The US slowdown also makes gold rise in the medium term.