Gold price update closing session 16: 4: World price increases, domestic price sharply decreases

SJC gold bar price

As of 5:45 PM, SJC gold bar prices were listed by DOJI at 167.7-171.2 million VND/tael (buying - selling), down 2.3 million VND/tael on the buying side and down 1.8 million 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 Bao Tin Minh Chau at the threshold of 167.7-171.2 million VND/tael (buying - selling), down 2.3 million VND/tael on the buying side and down 1.8 million VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 3.5 million VND/tael.

Phu Quy Jewelry Group listed SJC gold bar prices at 167.5-171.2 million VND/tael (buying - selling), down 2.5 million VND/tael on the buying side and down 2.3 million VND/tael on the selling side. The difference between buying and selling prices is at 3.7 million VND/tael.

9999 gold ring price

As of 5:45 PM, DOJI listed the price of gold rings at 167.7-171.2 million VND/tael (buying - selling), down 2.3 million VND/tael on the buying side and down 1.8 million VND/tael on the selling side. The difference between buying and selling prices is at 3.5 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 167.5-170.7 million VND/tael (buying - selling), down 2.5 million VND/tael on the buying side and down 2.3 million VND/tael on the selling side. The difference between buying and selling prices is at 3.2 million VND/tael.

Phu Quy Jewelry Group listed the price of gold rings at 167.5-170.7 million VND/tael (buying - selling), down 2.5 million VND/tael on the buying side and down 2.3 million VND/tael on the selling side. The difference between buying and selling prices is at 3.2 million VND/tael.

Currently, the buying - selling price difference of gold is at a very high level, around 3 million VND/tael, posing a risk of losses for investors.

World gold price

At 5:45 PM, world gold prices were listed around 4,809 USD/ounce, up 15.2 USD compared to the previous day.

Gold price forecast

World gold prices are showing signs of recovery after a period of strong fluctuations, in the context of market sentiment gradually stabilizing as expectations of the possibility of cooling down the conflict in the Middle East increase.

This development helps inflationary pressure somewhat ease, while strengthening expectations that the US Federal Reserve (FED) may ease monetary policy in the near future.

According to analysts, one of the reasons why gold was under pressure last month was the high demand for cash in the market after geopolitical shocks and supply chain disruptions.

Mr. Nitesh Shah, a commodity strategist at WisdomTree, said that selling pressure on gold largely stems from short-term liquidity demand, but this factor has now decreased significantly. He also noted that gold prices still have a relatively solid support base, as concerns related to the independence of central banks and the risk of the USD depreciating have not disappeared.

Meanwhile, the cooling of oil prices is also contributing to reducing concerns about inflation - a factor that once put strong pressure on gold due to increasing the possibility of the FED maintaining high interest rates for longer. The fact that crude oil has not returned to the 100 USD/barrel mark is helping investors be less cautious with monetary policy prospects, thereby supporting precious metals to regain recovery momentum.

However, the gold market has not yet completely escaped the state of stalemate. Mr. Michael Brown, senior market analyst at Pepperstone, said that the 4,800 USD/ounce mark is an important resistance level that gold needs to overcome to strengthen confidence in price increases.

According to him, although the market is expecting more from the scenario of de-escalation of geopolitical tensions, gold investors remain cautious after the previous period of hot price increases.

Mr. Brown believes that if the downward trend of conflict continues to be maintained, gold is likely to still be supported and the upward outlook has not been broken. However, in the short term, the precious metal may still fluctuate strongly as investors continue to assess the impact of geopolitics, energy prices and US interest rate orientation.