Gold price update at the closing session on July 15: Gold rings and gold bars simultaneously increase

SJC gold bar price

As of 5:45 PM, Phu Quy Jewelry Group listed SJC gold bar prices at 145-148.5 million VND/tael (buying - selling), an increase of 1 million VND/tael in both buying and selling directions. 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 145.5-148.5 million VND/tael (buying - selling), an increase of 1 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 143.5-147.5 million VND/tael (buying - selling), an increase of 1 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 5:45 PM, Phu Quy Gold and Gems Group listed the price of gold rings at 143.7-147.2 million VND/tael (buying - selling), an increase of 700,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3.5 million VND/tael.

DOJI listed gold ring prices at the threshold of 143.5-147.5 million VND/tael (buying - selling), an increase of 500,000 VND/tael on the buying side and an increase of 1 million VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 4 million VND/tael.

Bao Tin Minh Chau listed gold ring prices at the threshold of 143.5-147.5 million VND/tael (buying - selling), an increase of 1 million 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 5:30 PM, world gold prices were listed around the threshold of 4,029.4 USD/ounce, up 13.9 USD.

Gold price forecast

World gold prices are entering a period of strong struggle after regaining the 4,000 USD/ounce mark. US inflation data lower than forecast has created significant support for the precious metal, but concerns about oil prices and the policy orientation of the US Federal Reserve (Fed) make the increase not really solid.

The US consumer price index in June decreased compared to the previous month, while core inflation also cooled down. This development weakened the USD, pulled bond yields away from highs and caused investors to significantly reduce expectations of the Fed raising interest rates in July. This is a relatively favorable environment for gold, because the opportunity cost of holding non-yield assets is narrowed.

However, Fed Chairman Kevin Warsh still emphasized the goal of controlling inflation and affirmed that the agency does not accept prolonged high prices.

This shows that a positive CPI report is not enough for the Fed to completely change its policy orientation. If energy prices continue to escalate, inflationary pressure may return, forcing the Fed to maintain interest rates at a higher level for longer or continue to tighten policy.

In the short term, the developments of oil prices, the USD, bond yields and the next US inflation figures will determine the direction of gold. US-Iran tensions and the risk of disruption of transportation through the Strait of Hormuz may also boost safe-haven demand, but at the same time increase oil prices and create additional inflationary pressure.

From a long-term perspective, gold accumulation demand in China continues to be a noteworthy supporting factor. The People's Bank of China maintains gold buying, while physical buying and bottom-fishing activity show signs of improvement as prices adjust. However, ETF capital flows and jewelry demand may still fluctuate strongly according to the stock market and domestic purchasing power.

Technically, the 4,091-4,107 USD/ounce zone is near resistance. If it sustainably surpasses this area, gold prices may head towards 4,140 USD/ounce. Conversely, if it loses the 4,021 USD/ounce zone, the price is at risk of retreating to the support area around 3,959 USD/ounce.

Investors need to be cautious in the face of rapid ups and downs and avoid chasing purchases when the market fluctuates strongly. Information is for reference only, not investment recommendations.