The gold price today, February 26, on the international market is assessed by experts to increase because after experiencing a series of risks, the gold price still stands firmly above 2,000 USD/ounce.
Domestic gold price
Closing session 24/2, Gold bar price 9999 at SJC Ho Chi Minh City is 76.5 million VND/tael (buy) and 78.7 million VND/tael (sell). SJC Hanoi listed at 76.5 million VND/tael (buy) and 78.72 million VND/tael (sell).
DOJI Hanoi listed at 76.45 million VND/tael (buy) and 78.65 million VND/tael (sell). DOJI Ho Chi Minh City bought SJC gold at 76.45 million VND/tael, sold it at 78.65 million VND/tael.
International gold price
The price of gold on Kitco trading floor after the end of last week’s session was at 2,035 USD/ounce. Gold futures price for delivery in April 2024 on the Comex New York floor is trading at 2,048 USD/ounce.
Gold price stands firmly above 2,000 USD/ounce. Photo: Kitco
The gold market continues to attract investors’ attention even though interest rate cuts in March were almost eliminated by the US Federal Reserve (Fed). Analysts expect the US Central Bank to begin its interest rate cutting cycle in June.
Others believe that gold may continue to face difficulties as many investors seek profit opportunities from the recovering stock market. However, with only a few stocks creating growth momentum, the stock market can become fragile. The gold market could benefit from safe-haven demand as stocks are likely to correct.
Bob Haberkorn, senior market strategist at RJO Futures, said that gold has experienced many risks in recent times, such as geopolitical instability, the Fed’s tough monetary policy… but still stands firmly above 2,000 USD/ounce.
Haberkorn said that if gold falls below that support level, investors will massively buy in, then the gold price will push up again.
Gold price forecast
Last week, 11 analysts participated in Kitco News and Wall Street’s gold survey. As a result, 73% of analysts forecast that gold prices will increase in the near future. Only 9% of analysts predict the price will decrease and the remaining 18% think that gold price will move sideways.
Meanwhile, 204 votes were cast in Kitco’s online polls. As a result, 89 retail investors, accounting for 43%, believe that gold prices will increase in the near future. Another 52 people, equivalent to 26%, predict that the price will decrease and the remaining 63 people, equivalent to 31%, have the opinion that gold price will go sideways.