SJC gold bar price
As of 10:25 p.m., the price of SJC gold bars was listed by Saigon Jewelry Company at VND122.7-123.9 million/tael (buy in - sell out), unchanged. The difference between buying and selling prices is at 1.2 million VND/tael.
DOJI Group listed at 122.7-123.9 million VND/tael (buy - sell), unchanged. The difference between buying and selling prices is at 1.2 million VND/tael.
Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 122.7-123.9 million VND/tael (buy in - sell out), unchanged. The difference between buying and selling prices is at 1.2 million VND/tael.
Phu Quy Jewelry Group listed the price of SJC gold bars at 121.9-123.9 million VND/tael (buy in - sell out), unchanged. The difference between buying and selling prices is at 2 million VND/tael.
9999 gold ring price
As of 10:25 p.m., DOJI Group listed the price of gold rings at 116.3-119 1.8 million VND/tael (buy - sell), down 700,000 VND/tael for buying and up 300,000 VND/tael. The difference between buying and selling is 3.5 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 117-120 million VND/tael (buy - sell), down 300,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.
Phu Quy Gold and Stone Group listed the price of gold rings at 116.5-111.5 million VND/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling is 3 million VND/tael.
Currently, the difference between buying and selling gold rings is at a very high level, around 3 to 3.5 million VND/tael, posing a potential risk of loss for investors.
World gold price
The world gold price was listed at 6:30 p.m. at 3,339 USD/ounce, down 18 USD.
Gold price forecast
World gold prices plummeted after US President Donald Trump announced that he would not impose tariffs on imported gold bars, thereby easing concerns in the market.
Kelvin Wong, senior market analyst at OANDA, said: Investors will now definitely focus on the upcoming Fed rate cut, which has been largely priced by the market for September. If the upcoming core CPI data is slightly lower than expected, it could further strengthen that expectation.
This will reduce the cost of holding gold, while the yield on the 10-year US Treasury note remains below some important resistance levels, so it could continue to support gold prices.
All eyes are on the US consumer price index (CPI) data, due at 12:30 GMT. A recent survey shows that the core CPI in July could increase by 0.3%, bringing the annual increase to 3%, higher than the Fed's 2% target.
According to the CME FedWatch tool, traders are pricing in an 85% chance of the Fed cutting interest rates next month. Gold often has a positive performance in uncertainty and a low interest rate environment.
The market has been largely unresponsive to a statement from a White House official that Trump signed an executive decree on Monday, extending a further 90 days of postponing high tariffs on imports from China.
Economic data to watch this week
Tuesday: RBA interest rate decision, US CPI in July, speeches by Barkin and Schmid (FED).
Wednesday: Speeches by Barkin, Bostic and Goolsbee (FED).
Thursday: US PPI July, US jobless claims.
Friday: US retail sales in July, New York Empire State Production Index, Michigan Consumer Confidence Index (preliminary estimate).
Note: Gold price data is compared to a day earlier.
See more news related to gold prices HERE...
