Gold plunges after hitting historic peak

The world gold price today is listed on Kitco at 2,312 USD/ounce, down 28 USD/ounce compared to early this morning.

Gold prices fell due to profit-taking pressure from investors as gold prices continuously conquered new peaks.

However, the precious metal remained at high levels, supported by strong safe-haven demand, speculative buying and strong reserve demand from central banks.

ActivTrades senior analyst Ricardo Evangelista said that the upward trajectory of gold prices over the past two months was due to concerns about rising geopolitical instability and speculation regarding the timing of monetary policy easing by the US Federal Reserve (Fed).

Recently, looking at the strength of the economy and inflation data, Fed Chairman Jerome Powell reiterated the view that the US Central Bank has time to consider the timing of its first interest rate cut.

Gold price movements today

+ Domestic gold price

At 6:00 a.m. on April 8, the gold price at Doji was listed at 79 - 82 million VND/tael (buy - sell), unchanged from early this morning.

At the same time, the gold price at SJC was listed at 79.5 - 81.9 million VND/tael (buy - sell).

+ International gold price

The world gold price listed on Kitco is at 2,312 USD/ounce, down 28 USD/ounce compared to early this morning. Gold futures last traded at 2,315 USD/ounce.

Gold Price Forecast

Gold prices rose an impressive 5% last week, according to Kitco News' weekly gold survey. The market sentiment remains bullish, with 75% of Wall Street experts predicting higher prices. Only 8% predict lower prices, while 17% are neutral.

According to an online poll on Main Street, 65% expect gold to rise, 18% predict lower prices, and 17% are neutral on gold's short-term outlook.