Gold price today 2/5: Gold fell but still anchored close to the threshold of 1,900 USD/ounce

Gold price today 2/5, the world market started a new week from the price recorded at 1,890.7 USD/ounce (updated at 7:30 am this morning). Closing yesterday, the gold price stood at 1,891.5 USD/ounce, the dollar strengthened and investors pushed to sell gold.

After a bad week, gold price The world fell nearly 5% after failing to break above the threshold of $2,000/ounce, to below $1,900/ounce.

However, there are still some factors that still affect the decision of gold speculators when the market ends the week back above the level of 1,900 USD. Immediately, gold came under significant selling pressure, as the USD index was pushed to a near 20-year high.

The dollar recovered, while investors looked to the two-day meeting of the US Federal Reserve (Fed) for more information on tightening monetary policy.

A strong dollar makes gold less attractive to buyers in other currencies. At the time of the survey, the USD Index, a measure of the dollar’s strength against rival currencies in a basket of currencies, was up 0.25% to 103.22.

Gold prices fell 1.7% in April as the prospect of a Fed rate hike boosted the greenback and US bond yields.

According to a Wall Street survey, 9 analysts (53%) forecast gold price will increase this week; Four analysts (25%) see prices falling, and three (18%) expect prices to move sideways.

As for the results of Main Street’s online survey, 49% think gold will increase in price next week; 34% forecast a decline in prices, 17% have a neutral opinion. This is the first time since late September that optimism in the market has fallen below 50%.

Markets are now focusing their attention on the US central bank’s two-day policy meeting, which begins on May 3.

Gold price Domestically: At the end of the session yesterday, the price of 9999 gold bars at SJC and Doji listed as follows: SJC Hanoi: 69.65 million dong/tael (buy in) – 70.37 million dong/tael (sold out) ). SJC HCMC: 69.65 million VND/tael (buy in) – 70.35 million VND/tael (sold out). Doji Hanoi: 69.55 million VND/tael (buy in) – 70.25 million VND/tael (sold out). Doji Ho Chi Minh City: 69.55 million VND/tael (buy in) – 70.25 million VND/tael (sold out).