Gold price today 2/5: Waiting to increase
This slight increase makes gold price today 2/5 still stand at a low area when it has not yet surpassed the resistance level of 1,900 USD/ounce.
World gold prices have anchored around a two-month low, as the USD continues to rise and hit its highest level since early 2017.
The dollar index fell 0.7 percent, having hit a 20-year high on April 28, making gold less expensive for investors holding other currencies.
Gold price is less volatile, still in the low zone
At the end of the trading session on May 1, Saigon Jewelry Company listed the price of SJC gold at 69.65 million dong/tael (buying in) and 70.35 million dong/tael (sold out).
DOJI Group listed the gold price at 69.55 million dong/tael (buying in) and 70.55 million dong/tael (sold out).
Gold price forecast
According to a survey of Wall Street, 9 analysts (53%) forecast gold prices to increase next week; 4 analysts (25%) see prices falling and 3 (18%) forecast flat prices.
As for the results of Main Street’s online survey, 49% think that gold will increase in price next week; 34% forecast a decline in prices, 17% have a neutral opinion.
This is the first time since the end of September 2021 that optimism in the market has fallen below 50%. However, the growth data and the cost index in the employment data show that inflation is still quite hot, which is generally supportive for the economy, said Edward Meir, analyst at ED&F Man Capital Markets. yellow.
Markets are now focusing their attention on the US Central Bank’s two-day policy meeting, which begins on May 3.
at Blogtuan.info – Source: vtc.vn – Read the original article here
