Gold price update at the closing session on July 13: Gold rings decrease by 2 million VND/tael

SJC gold bar price

As of 6:00 PM, Phu Quy Jewelry Group listed SJC gold bar prices at 145-148.4 million VND/tael (buying - selling), down 1.3 million VND/tael on the buying side and down 1.5 million VND/tael on the selling side. The difference between buying and selling prices is at 3.4 million VND/tael.

SJC gold bar price was listed by DOJI at the threshold of 145.4-124.4 million VND/tael (buying - selling), down 1.5 million VND/tael in both directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

SJC gold bar prices were listed by Bao Tin Minh Chau at the threshold of 143-147 million VND/tael (buying - selling), down 2 million VND/tael in both directions. The difference between buying and selling prices is at the threshold of 4 million VND/tael.

9999 gold ring price

As of 6:00 PM, Phu Quy Gold and Gems Group listed the price of gold rings at 143.5-147 million VND/tael (buying - selling), down 1.8 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3.5 million VND/tael.

DOJI listed gold ring prices at 143-146.8 million VND/tael (buying - selling), down 2 million VND/tael on the buying side and down 2.2 million VND/tael on the selling side. The difference between buying and selling prices is at 3.8 million VND/tael.

Bao Tin Minh Chau listed gold ring prices at 143-147 million VND/tael (buying - selling), down 2 million VND/tael in both directions. The difference between buying and selling prices is at 4 million VND/tael.

World gold price

At 6:00 PM, world gold prices were listed around the threshold of 4,040 USD/ounce, down 79.4 USD compared to the previous day.

Gold price forecast

World gold prices are entering a sensitive phase when they are both under pressure from a strong USD, interest rates are maintained at a high level, and are supported by prolonged geopolitical instability. The short-term trend is therefore still unclear as the impacting factors are constantly changing.

After a strong increase to set a historical peak at the beginning of the year, the gold market has entered a correction cycle with a larger fluctuation range. The fact that many financial institutions have adjusted down gold price expectations in the last months of the year shows that cautious sentiment is increasing.

One of the important factors dominating the market today is the monetary policy orientation of the US Federal Reserve (Fed). The fact that this agency has not sent a clear signal about the possibility of easing interest rates has caused the USD to maintain its strength, while US government bond yields are still high. These are disadvantages for gold because the precious metal does not generate cash flow like other profitable assets.

In addition, the tense developments in the Middle East continue to create unpredictable fluctuations. If geopolitical risks increase, defensive cash flow may return to gold. However, in the context of rising energy prices leading to a higher risk of inflation, the market may continue to worry that the Fed will maintain a cautious monetary policy for a long time.

A survey of opinions from Wall Street experts on a precious metal market monitoring website shows that the gold price trend this week has not yet received clear consensus. Among the experts surveyed, 38% predict that gold prices will continue to rise, 38% believe that precious metals are likely to maintain sideways, while 23% believe that prices may fall further in the short term.

This week, the market will focus on monitoring important US economic data, especially the consumer price index (CPI), along with new statements from Fed officials to look for signals about the interest rate orientation in the coming time.

In the long term, factors such as geopolitical instability, global public debt and the central bank's need to hoard gold are still important supports. However, in the period when the market is rebalancing, reasonable capital allocation and risk management are still top priorities.