Survey of experts on gold prices next week

Today’s gold price in the country and the world is changing very complicatedly due to many conflicting information. Many experts say that investors are standing outside the market waiting for important news next week.

Gold price today January 27: World gold ended the week with losses

Gold ended one of its least eventful weeks in recent memory, with spot gold down 0.12% on Friday and down 0.54% for the week, last trading at $2,018.59 an ounce.

Evolution of world gold prices. Source: Tradingeconomics

This week, 14 Wall Street analysts participated in the Kitco News Gold Survey, and they continue to be cautious about near-term gold price potential. Five analysts, or 36%, predict gold prices will move higher next week, while three analysts, or 21%, predict gold prices will fall. Six experts, accounting for 43%, predict gold prices will move sideways next week.

Meanwhile, 89 votes were cast in Kitco’s online polls, with retail traders appearing slightly more optimistic but still overall indecisive. 43 retail investors, accounting for 48%, expect gold to increase next week. Another 26%, or 29%, predicted lower prices, while 20 respondents, or 23%, were neutral on the near-term outlook for precious metals.

Although the conflict in the Middle East is still becoming tense, the dollar is still declining, but gold seems to react less to this information. The market is paying attention to the US jobs report data, the Federal Reserve’s interest rate decision and Fed Chairman Jerome Powell’s press conference next week, especially the first non-farm payrolls. fairy of the year.

The Fed is expected to leave interest rates unchanged in Wednesday’s FOMC announcement, but Powell’s pressure will temper expectations for a quick rate cut that he raised in his recent press conference.

In addition to the US Nonfarm Payrolls report for December on Friday morning, markets will also watch US consumer confidence and JOLTS job openings on Tuesday, ADP jobs data on Wednesday and the Bank of England’s monetary policy announcement, weekly jobless claims and ISM manufacturing data for December on Thursday.

Jameel Ahmad, Chief Analyst at GTC Global Trade Capital said he expects gold prices to fall from recent highs: “I see a risk that gold could fall below $2,000 on expectations of a rate cut US interest rates are reversed and the US dollar is likely to strengthen again.”

Economic data next week:

Tuesday: US consumer confidence, JOLTS job opportunities

Wednesday: ADP employment data, Federal Reserve monetary policy meeting

Thursday: Bank of England monetary policy, weekly jobless claims, ISM Manufacturing data

Friday: Nonfarm payrolls

Domestic gold price today January 27: SJC gold increases and decreases erratically

Domestic SJC gold price this week reversed continuously. This morning, domestic gold bars are being sold for nearly 77 million VND/tael. Currently, gold bar prices for brands are listed specifically as follows:

SJC gold price in Hanoi and Da Nang area is listed at 74.3 million VND/tael purchased and 76.82 million VND/tael sold. In Ho Chi Minh City, SJC gold is still buying at the same level as in Hanoi and Da Nang but selling is 20,000 VND lower. Thus, compared to yesterday morning, SJC gold price has been adjusted to increase by 300,000 VND in both directions.

The buying price and selling price of Bao Tin Minh Chau’s SJC gold are respectively 74.35 million VND/tael and 76.65 million VND/tael, an increase of 300,000 VND in both directions compared to yesterday morning.

SJC gold bars were purchased by Phu Quy at the price of 74.3 million VND/tael and sold at 76.7 million VND/tael, an increase of 250,000 VND on the buying side and 300,000 VND on the selling side.

PNJ listed SJC gold at 74.4 million VND/tael purchased and 76.8 million VND/tael sold, an increase of 400,000 VND on the buying side and 300,000 VND on the selling side compared to yesterday morning.

The difference between domestic and world gold prices is about over 16 million VND.

Gold price today January 27: Survey of experts on gold price next week - Photo 2.

Domestic SJC gold price developments. Source:

Unit: x1000 VND/tael

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