Gold prices today May 10: Broad gains forecast as global markets rally. Both experts and investors expect gold prices today to continue rising on international markets as they surpass 4,700 USD per ounce.\n\nEarly on May 10, domestic gold prices continued to rise in line with the global market recovery. Major gold traders quoted SJC bullion at around 164.5 million VND per tael for buying and 167.5 million VND per tael for selling, up about 1.5 million per tael from the previous weekend.\n\nSimilarly, 99.99% gold bars and jewelry traded commonly at 164 million VND per tael for buying and 167 million per tael for selling. Some brands quoted plain gold rings at prices equal to SJC bullion bars.\n\nOn the free market, gold prices did not diverge significantly. Some small shops quoted SJC bullion at around 164 million per tael for buy and 165.5 million per tael for sell, lower by about 2 million per tael than major brands.\n\nGold prices today are forecast to rise.\n\nDespite the uptick, domestic gold trading in the past week remained fairly subdued. Trading activity was not very active, as investors remained cautious after earlier volatility.\n\nDomestic gold movements continued to track global trends. At week’s close, international gold price stood around 4,715 USD per ounce, up nearly 100 USD per ounce from the prior session, thus breaking a multi-day decline sequence.\n\nThe rebound in the precious metal is drawing investor attention back. A latest Kitco poll shows most experts and investors expect gold prices to rise further next week.\nSpecifically, in a Wall Street survey of 11 experts, 64% forecast higher gold prices, 9% saw lower prices, and the rest predicted flat. Optimism also appeared among individual investors. In an online Main Street survey with 153 participants, 69% expected prices to continue rising, 1% expected a decline, and 13% expected prices to be stable.\nNotably, participation in the survey this week rose sharply compared with many weeks prior, suggesting gold is drawing attention again after a period of adjustment.\nMr. Alex Kuptsikevich, senior market analyst at FxPro, said gold is likely to continue rising in the near term. He notes the precious metal is recovering fairly steadily after tensions between the US and Iran show signs of cooling.\nThe analyst also said that gold is moving in tandem with global stock markets, as major indices have kept rising for six consecutive weeks.\n“Gold needs to consolidate above 4,860 USD per ounce to sustain the uptrend. It is highly likely that next week prices will approach or even surpass 4,900 USD per ounce,” said Alex Kuptsikevich.
