(PLO)- Gold price may drop sharply after rising too high.
In an interview with Kitco gold news agency, Ms. Chantell Schieven, Research Director of Capitalight Research, said that in recent times, gold has been overbought so it is starting to trend toward correction.
In the context of US interest rates likely to increase further, the strengthening USD continues to put pressure on gold prices. Therefore, gold price is likely to decrease for a long time to 2,000 USD/ounce, equivalent to 62.4 million VND/tael in June.
If this happens, gold could lose up to 400 USD/ounce (more than 12 million VND/tael) after rising to a historic peak of more than 2,400 USD/ounce.
Gold price today April 25, world gold price remains at 2,326 USD/ounce, equivalent to 72 million VND/tael.
PNJ and SJC gold sold to the market were 74.80 and 84.30 million VND/tael, respectively.
