Gold Prices Soar by Over $19 per Ounce as Experts Predict Further Gains

The price of gold opened sharply higher on August 17th, rising by more than $19 per ounce to reach $4,394.1 per ounce.

This unexpected increase in gold prices is according to Kitco News, which also reports that 90% of experts surveyed predict that the price will continue to rise next week.

Domestically, Saigon Jewelry Company (SJC) listed the price of gold bars at 141-144 million VND/ounce, while DOJI Group and Phu Nhuan Jewelry Company (PNJ) also listed their prices at the same range. The Bao Tin Minh Chau brand listed its price slightly lower at 140.7-144.4 million VND/ounce.

James Stanley, senior market strategist at Forex.com, notes that the upward trend in gold is not yet over as buying pressure is returning strongly.