Gold price today (April 17): Selling pressure, gold still high

Domestic gold price

At the end of the trading session on April 15, the price of 9999 gold bars at SJC Ho Chi Minh City was 66.3 million VND/tael (buy) and 67 million VND/tael (sell). SJC Hanoi listed at 66.3 million VND/tael (buy) and 67.02 million VND/tael (sell).

Doji Hanoi listed at 66.35 million VND/tael (buy) and 67 million VND/tael (sell). Doji Ho Chi Minh City bought SJC gold at 66.4 million VND/tael and sold at 67 million VND/tael.

The State Bank announced the central VND/USD exchange rate applied on April 15 at 23,588 VND. The reference USD exchange rate at the State Bank Exchange is listed at 23,450 - 24,717 VND/USD (buy - sell).

World gold prices tend to increase slowly. Photo: Nam Khanh

International gold price

Gold prices ended last week near $2,000 an ounce, after rising to nearly $2,050 an ounce in the middle of last week.

Investors remain bullish on gold prices in the near term, while Wall Street analysts are taking a more cautious stance, according to a Kitco News survey.

The reason for the sudden drop in gold prices is due to the pressure of investors to sell and take profits. According to analysts, the decrease is only temporary. In the long term, gold is on an upward trend, but it will be slower than last week.

Gold prices still have a lot of room to increase in the coming time, even though the market is predicting that the US Federal Reserve (Fed) will continue to raise interest rates in May.

In another analysis, precious metals experts on Wall Street said that the market pressure from the collapse of the US banking system has begun to ease, affecting the safe-haven demand for gold. However, this makes the price of gold increase more slowly and steadily.

Gold price forecast

According to Kitco's Wall Street gold price survey, 39% of experts are optimistic about gold prices rising; 26% of analysts believe gold prices will fall; 35% believe gold prices will trade sideways.

Meanwhile, 1,347 votes participated in the online survey, the result was 68% said that gold price will increase; 20% of participants said that gold price will decrease; 11% of opinions said that gold price will go sideways in the near future.