SJC gold bar price
As of 17:00, SJC gold bar prices were listed by DOJI at the threshold of 133.3-138.3 million VND/tael (buying - selling), a sharp decrease of 5.5 million VND/tael in both directions. The difference between buying and selling prices is at the threshold of 5 million VND/tael.
SJC gold bar prices were listed by Bao Tin Minh Chau at the threshold of 135-140 million VND/tael (buying - selling), down 4 million VND/tael in both directions. The difference between buying and selling prices is at the threshold of 5 million VND/tael.
Phu Quy Jewelry Group listed SJC gold bar prices at the threshold of 133.8-138.8 million VND/tael (buying - selling), down 5 million VND/tael in both directions. The difference between buying and selling prices is at the threshold of 5 million VND/tael.
9999 gold ring price
As of 17:00, DOJI listed the price of gold rings at the threshold of 133.3-138.3 - 138.8 - 143.8 million VND/tael (buying - selling), down 5.5 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 5 million VND/tael.
Bao Tin Minh Chau listed gold ring prices at 135-140 million VND/tael (buying - selling), down 4 million VND/tael in both directions. The difference between buying and selling prices is at 5 million VND/tael.
Phu Quy Gold and Gems Group listed the price of gold rings at the threshold of 133.8-138.8 million VND/tael (buying - selling), down 5 million VND/tael in both directions. The difference between buying and selling prices is at the threshold of 5 million VND/tael.
The buying - selling price difference of gold is at a very high level, around 5 million VND/tael, posing a risk of losses for investors.
World gold price
At 5:15 PM, world gold prices were listed around the threshold of 4,158.8 USD/ounce, a sharp decrease of 181.1 USD compared to the previous day.
Gold price forecast
World gold prices are under great pressure as the market simultaneously faces geopolitical risks, inflation concerns and expectations that US interest rates will remain high. Although tensions in the Middle East are often a factor supporting safe-haven demand, current developments are not enough to help gold regain momentum.
The reason is that investors are focusing more on the risk of energy price escalation, thereby increasing inflationary pressure and forcing the US Federal Reserve (Fed) to continue to maintain tight monetary policy.
According to Mr. Lukman Otunuga - senior analyst at FXTM, gold is becoming a "victim" of increased inflation risk, although geopolitical tensions still drive risk avoidance sentiment in the market.
He said that new developments in US-Iran relations have weakened expectations of a solution to cool down the conflict, while the market is still concerned about the spillover effects on oil prices and interest rates.
From a monetary policy perspective, US inflation data continues to be the focus. The May Consumer Price Index (CPI) and Producer Price Index (PPI) reports are expected to provide more clues about the Fed's next steps in the second half of the year.
After the positive jobs report earlier, expectations of the Fed raising interest rates have been strengthened. This is a disadvantage for gold, because the precious metal does not yield yields and is often less attractive when real interest rates rise.
Technically, the fact that gold prices fall below the 200-day moving average is sending a negative signal. According to Mr. Otunuga, this penetration of the important technical zone could trigger further selling pressure, especially when fundamentals have not yet shifted to support gold.
In the short term, the 4,250 USD/ounce zone is considered a near support level for gold prices. If this level is broken, the price may fall further back to the 4,180-4,200 USD/ounce zone.
Conversely, to improve the trend, gold prices need to recover and maintain above the resistance zone of 4,350-4,370 USD/ounce. Investors are recommended to be cautious, because the fluctuation range of gold may still be large before important US inflation data.
Gold price data is compared to the previous day.
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