Gold price update at the closing session on July 14: Domestic gold prices simultaneously decrease

SJC gold bar price

As of 5:45 PM, Phu Quy Jewelry Group listed SJC gold bar prices at 144-147.5 million VND/tael (buying - selling), down 1 million VND/tael on the buying side and down 900,000 VND/tael on the selling side. The difference between buying and selling prices is at 3.5 million VND/tael.

SJC gold bar price was listed by DOJI at the threshold of 144.5-147.5 million VND/tael (buying - selling), down 900,000 VND/tael in both directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

SJC gold bar price was listed by Bao Tin Minh Chau at the threshold of 142.5-146.5 million VND/tael (buying - selling), down 500,000 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 5:45 PM, Phu Quy Gold and Gems Group listed the price of gold rings at 143-146.5 million VND/tael (buying - selling), down 500,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3.5 million VND/tael.

DOJI listed the price of gold rings at 143-146.5 million VND/tael (buying - selling), keeping the buying direction unchanged and decreasing by 300,000 VND/tael on the selling side. The difference between the buying and selling prices is at 3.5 million VND/tael.

Bao Tin Minh Chau listed gold ring prices at the threshold of 142.5-146.5 million VND/tael (buying - selling), down 500,000 VND/tael in both directions. The difference between buying and selling prices is at the threshold of 4 million VND/tael.

World gold price

At 5:35 PM, world gold prices were listed around the threshold of 4,015.5 USD/ounce, down 24.5 USD.

Gold price forecast

Gold prices are experiencing a period of strong fluctuations as expectations for US monetary policy are constantly changing. In the short term, the precious metal still faces downward pressure due to the USD and US government bond yields remaining at a high level, increasing the opportunity cost of holding non-performing assets.

The focus of the market today is the US June consumer price index report, followed by production price data and the Congressional hearing of US Federal Reserve (Fed) Chairman Kevin Warsh. These figures may determine interest rate expectations in the last months of the year, thereby creating major fluctuations in gold prices.

If inflation continues to be higher than forecast, the possibility of the Fed maintaining a tightening policy, even raising interest rates, will increase. This scenario may support the USD, push bond yields up and put pressure on gold prices to continue. Conversely, cooling inflation data or a noticeable weakening labor market may reduce interest rate hike expectations, thereby creating conditions for gold to recover.

Rising oil prices due to developments in the Middle East are also factors to monitor. Expensive energy may cause prolonged inflationary pressure, but at the same time geopolitical instability also promotes risk hedging demand. Therefore, the impact of oil prices on gold may fluctuate in two directions, depending on the Fed's response and cash flow in the financial market.

After a deep decline, gold prices at one point fell into a sell-off state and below the 200-day moving average. This may trigger technical buying when prices approach important support zones. However, the recovery process is likely not stable as the market is still sensitive to economic data and statements from Fed officials.

In the long term, the upward cycle of gold is not necessarily over. Increased public debt, budget deficits, the trend of dispersing foreign exchange reserves and gold buying activities by central banks continue to be supporting factors. Gold is increasingly seen as a neutral reserve asset in the context of a more multipolar global monetary system.

Investors should be cautious in the face of strong fluctuations, avoid chasing purchases when prices recover quickly and need to consider the high buying-selling spread. The above information is for reference only, not investment recommendations.