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| The price of gold is expected to continue to rise in the early days of the new year 2021. |
Update the price of gold today
World gold prices on the first day of 2021 were stable and point to the most positive year in the last decade, amid the uncertain global economic context, many factors beneficial to gold. Analysts are bullish on gold as central banks are likely to continue to keep their monetary policy super loose next year. Rising inflationary pressures due to the economic recovery in the second half of the year are expected to keep real interest rates low or negative. In particular, governments around the world continue to implement important stimulus measures to reduce the negative impact of the Covid-19 pandemic. All of these are factors that support gold prices.
The spot gold price remained at $ 1,899 / ounce in Kitco, gold for February delivery rose 0.01% to $ 1,901 / ounce, recorded at 6:30 p.m. (Vietnam time) on January 1.
In the domestic market, SJC gold prices closed on trading systems and showed little change in buy and sell directions compared to this morning’s opening price. At Saigon Jewelry System, the SJC gold price is still trading at 55.55 – 56.10 million dong / tael (buy on sale).
At the same time, in the Hanoi market, Bao Tin Minh Chau Company traded the price of SJC gold to maintain a slight increase, recorded an increase of 90,000 VND / tael in the buy direction and slightly advanced 10,000 VND / tael in the direction selling. The SJC gold price is currently trading at 55.75 – 56.24 million VND / tael (buy-sell). Gold price 999.9, Dragon Thang Long gold mark at 54.81 – 55.51 million VND / tael (buy on sale).
The price of gold depends on when the world beats Covid-19
The global price of gold has risen by about 25% in 2020 as central banks and world governments have to adopt economic support measures due to the strong impact of the Covid-19 epidemic, which lays the foundation for inflation. play higher.
Mr. Tai Wong, head of derivatives trading for base metals and precious metals at investment brokerage BMO, said the US Federal Reserve (Fed) will maintain a stable monetary policy. through 2022, while Democrats in Congress seek to push borrowing and spending more aggressively. Based on these developments, the USD has fallen seriously and can hardly create any other price rallies. That is the factor that underpins higher gold prices.
However, Tai Wong also pointed out that only when the Covid-19 vaccine is truly effective and the world can defeat the pandemic in the summer of 2021, is the gold recovery likely to be limited.
Last week, Kitco conducted a special survey to forecast gold prices on the last day of 2021. Among the nearly 2,000 individual investors who participated, 1,646 comments (84%) forecast precious metals. This will exceed $ 2,000 next year.
The average price of those forecasting a rise is more than $ 2,300 / ounce. Among them, the group is active with 266 people, or 14%, that the price of gold will trade in the range of 2,500 to 2,600 USD per ounce. 152 participants, or 8%, forecast that precious metals will soar next year, reaching more than $ 3,000.
The number of investors who forecast that the price of gold will deviate is only 212 people, equivalent to 11%, that the price of gold will trade in the range of $ 1,900 to $ 2,100, equivalent to the current price range.
At the end of this year, gold was down 8% from its peak in August, but there wasn’t much negative sentiment in the market. Just 298 comments, or 15%, the gold rating will end in 2021 below $ 2,000 per ounce. In particular, only 3% of those surveyed believe that gold will turn negatively, to less than $ 1,500 by the end of next year.
“2021 will be the year that marks the return of inflation. We have not experienced anything like it in 40 years. At some point in the next year, it will happen, “predicted Leigh Goehring, manager of Goehring & Rozencwajg Associates. I cannot avoid the consequences. Therefore, gold can exceed $ 2,100 and challenge $ 3,000.”
“2021 will be the year that marks the return of inflation. We have not experienced anything like it in 40 years. At some point in the next year, it will happen, “predicted Leigh Goehring, manager of Goehring & Rozencwajg Associates. I cannot avoid the consequences. Therefore, gold can exceed $ 2,100 and challenge $ 3,000.”
Bitcoin could exceed $ 30,000
The key to bitcoin’s bullish momentum has held for the past few weeks. Bitcoin’s new bull run remains controversial. Many investors view cryptocurrencies as a hedge against the risk of a weak dollar and the risk of inflation. Meanwhile, others have questioned Bitcoin’s highly speculative factor and the price boom cycle.
“Bitcoin’s bullish momentum remains insane as the dollar falls record-breaking. Cryptocurrency investors are extremely bullish. This could push the price of bitcoin to $ 30,000 before the end of 2020.” Edward Moya, a senior financial expert at research firm Oanda (USA), confirmed.
The price of bitcoin first crossed the $ 20,000 mark just two weeks ago. Now, the most popular cryptocurrency in the world is close to $ 30,000. According to the Oanda expert, in the past, the price of bitcoin was often pressured by legal regulations. However, the bullish momentum of the coin is still maddening after the XRP scandal. The US Securities and Exchange Commission (SEC) accused Ripple of selling $ 1.3 billion in unregistered securities to global investors.
“Legal risk is the biggest obstacle to the rise in the price of bitcoin. However, for some institutional investors, the fall in the price of XRP is a reminder that bitcoin is still a good cryptocurrency option.” “Most of them,” explained expert Moya.
You are invited to read the results of the Northern Lottery (XSMB), the results of the Southern Lottery (XSMN), the results of the Central Lottery (XSMT) and the 12 zodiac horoscope are updated in the International Newspaper every day .
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