Gold prices are forecast to fall sharply next week.

According to Kitco News' forecast, the price of gold could fall to $1,220/oz next week, a decrease of $15/oz compared to last week.

Gold prices are forecast to fall sharply next week.

According to a Kitco News survey, the forecast for world gold prices next week (April 25-29) continues to be favorable for another week in a row, with experts and analysts agreeing with this prediction.investRetail forecasts are contradictory to price trends.

Specifically, the majority of retail investors predict that gold prices will rise next week, while the majority of market experts believe prices will fall. Of the retail investors surveyed weekly by Kitco News, 72% predicted a price increase next week, 19% predicted a decrease, and 10% were neutral. Among market experts, 44% predicted a decrease, 28% predicted an increase, and 28% held a neutral view.

Those forecasting a price drop argue that the downward trend next week is due to gold's failure to re-establish its month-high price level reached on March 13th.

Over the past week, despite strong selling pressure on Thursday, the market closed the week in a balanced state, remaining virtually unchanged from the previous week's overall price level.

Although analysts are expecting gold prices to fall in the short term, the bearish outlook is based on the assumption that prices remain constrained and unlikely to break through, with the price level next week potentially dropping to $1,220/oz.

Richard Baker, editor of the Eureka Miner newsletter, suggests that gold prices will remain caught between declining interest in gold in European and Japanese markets and the US yield curve.

Sean Lusk, director of commercial risk insurance at Walsh Trading, said the fact that selling pressure is increasing is a drag on the market. However, he added that gold prices next week could hold at support around $1,228/oz ahead of the Federal Reserve's monetary policy meeting, after which buying pressure could increase.

Adrian Day, President of Adrian Day Asset Management, stated that he continues to forecast a price decline, which he believes is part of a market correction following a fairly strong price increase in the first quarter. However, he remains optimistic that long-term volatility will be smaller and shorter.

If gold prices follow forecasts, they could fall to $1,220/oz next week. Converted to Vietnamese Dong at an exchange rate of 22,330 VND/USD, this would bring the world gold price to approximately 32.82 million VND/ounce next week. Compared to last week's closing price of $1,235/USD, gold prices could drop by $15/oz next week, equivalent to a decrease of about 400,000 VND/ounce.

According to VOV