Gold wobbly stage ...

  Domestic gold prices continued to decline and forecasts for the "just missed" a few days to buy gold is "holding make holes."


    Domestic gold prices are higher than world prices 6 million / tael, world prices are strong downtrend. Plus these two factors, the distant future of the domestic gold price could go even below 30 million / tael.


    Two days earlier this week, the world gold market continues to decline. Yet, according to the statement of financial experts - the economy, gold will continue to lose appeal in due time to the economic growth and easing of U.S. restrictions will come sooner than expected.


    The world's forecasts are generally identified, continuous uptrend in gold prices 10 years has ended. This means that gold is in a bear market price, which is reduced to the extent only. Historically gold has shot up to 4 times after the oil crisis of the 70s of the last century. So, everyone expected the worst though, are entirely possible.

                            Domestic gold price is forecast to continue to decline after 30/6
    

    Coming down!


    Goldman Sachs has cut its forecast gold price this year is $ 1,300 / ounce, down 9.4% compared with the previous forecast was $ 1,435 / ounce, but gold prices will end 2014 at $ 1,050 only / ounce, down 17.3% compared to the previous forecast was $ 1,200 / ounce.


    BNP also cut its forecast 2013 gold price from $ 1,580 / oz to $ 1,405 / troy ounce from $ 2014 to $ 1520 / ounce down to $ 1,155 / ounce.


    Similarly, HSBC also cut its forecast gold price. HSBC said that the price of gold in 2013 at only $ 1,396 / ounce, down from $ 1,542 the previous offer. In 2014, the gold price is forecast at $ 1,435 / ounce, lower than the $ 1,600 / ounce the previous forecast. At the same time, HSBC expressed optimism for the prospect of the U.S. dollar stimulus withdrawal. The dollar also contributed to rising prices for gold prices fell appeal, mainly due to reduction plan stimulus of the U.S. Federal Reserve (Fed) as well as worries about China's economic prospects.


    The commodity analyst at ANZ also predicted that gold prices will trade in the range of 1200-1400 USD / ounce within the next 6 months, but do not exclude the possibility of below $ 1,200 / oz after changes Recent strong.


    According to the General Director of Investment and Business gold Vietnam, Tran Thanh Hai, gold will likely correction in the coming days. In addition to the reasons mentioned, there is pessimism about the gold after the Fed Chairman said could reduce the scale bond buying program later this year and stopped in the middle of 2014. Money supply will be limited to the U.S. dollar and strength recovery.


    Gold prices are based on the dollar, so the dollar price increases, the prices of gold and vice versa. In fact, only after the information about the possibility of reducing the economic stimulus package, the U.S. dollar index measuring the strength of the dollar to six major currencies rose 0.3%, the highest level since 6 / 6. For the whole week, the index rose 2.2%, marking the biggest weekly gain since late 2011.


    Apart from the U.S. reason, the gold market while also having the leading importers are constantly rising Indian gold import duty, to control the deficit, the current account balance, making gold imports This country tends to fall sharply.


    Currently the world is slowly leaving gold markers $ 1,300 / ounce, if calculated, the domestic price is only equivalent to 32.5 to 33 million dong / tael.

    

    Should I buy?


    Company Information from Phu Nhuan Jewelry (PNJ), said in the days of gold fell earlier this week, gold purchasing power of the people and investors have suddenly increased.


    From sales of only about 300-400 weight / day for 2 days only PNJ sold first week average of 1600-1700 volume / day. In particular, individual customer accounts for the majority, because by that gold prices fell to the lowest since 2011 until now.


    Director of PNJ gold business, said Nguyen Ngoc Trong, the day 25/6, gold sales of PNJ sold declined somewhat, possibly due to the customer noticed the trend of gold is on its way downward adjustment should wait more.


    Outlook for gold buyers at this point is "very risky", the domestic price is too high compared to world prices. This difference is expected to decrease after the expiration of 30/6 when the banks all gold account status. Therefore, the decline of the domestic gold price is considered to be "identified". The problem is that the rate of decline will be like?


    Forecast of Nguyen Ngoc Trong, the more likely the difference 6 million / tael between domestic and international prices will be narrowed after 30/6 when the bank completed all math, but not much, the difference Can still around 3-4 million / tael, not to look at the world price.


    Tran Thanh Hai said, over the years, and observing activities in the field of gold, experience shows that the downward trend will be gold correction should increase investors, people should buy or sell gold careful to avoid the "waves" of gold.