SJC gold bar price
As of 6:00 p.m., the price of SJC gold bars was listed by Saigon Jewelry Company at 118.6-120.6 million VND/tael (buy in - sell out); down 500,000 VND/tael in both directions. The difference between buying and selling prices is at 2 million VND/tael.
DOJI Group listed at 118.6-120.6 million VND/tael (buy - sell); down 500,000 VND/tael in both directions. The difference between buying and selling prices is at 2 million VND/tael.
Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 118.6-120.6 million VND/tael (buy in - sell out); down 500,000 VND/tael in both directions. The difference between buying and selling prices is at 2 million VND/tael.
Phu Quy Gold and Stone Group listed the price of SJC gold bars at 117.9-120.6 million VND/tael (buy in - sell out); down 500,000 VND/tael in both directions. The difference between buying and selling prices is at 2.7 million VND/tael.
9999 gold ring price
As of 6:00 p.m., DOJI Group listed the price of gold rings at 115.6-118.1 million VND/tael (buy in - sell out). The difference between buying and selling is 2.5 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 115.3-118.3 million VND/tael (buy - sell), down 500,000 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 114.6-117.6 million VND/tael (buy - sell), down 400,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.
World gold price
The world gold price was listed at 6:10 p.m. at 3,335.5 USD/ounce, showing signs of recovery compared to 1 day ago.
Gold price forecast
In the context of signs of rising inflation and US President Donald Trump threatening to impose additional import tariffs, gold prices have increased again, becoming a bright spot in the gloomy global financial market.
The trading session on the afternoon of July 16 (Vietnam time) recorded the spot gold price increasing to 3,335.5 USD/ounce. This is the second consecutive increase, showing that the psychology of searching for safe-haven assets is returning after US economic data signaled that inflation has not cooled down.
Previously, June consumer price data showed the cost of some commodities in the US increased, causing many investors to adjust their expectations for the US Federal Reserve (FED) to soon cut interest rates. Gold prices have therefore become an attractive safe haven in the context of a cooling USD and a volatile stock market.
The global financial market yesterday fluctuated in a negative direction. The global MSCI index fell 0.1% on the day, after being pulled off from its record in the previous session. In Europe, the STOXX 600 index fell 0.1%, while the UK FTSE 100 increased 0.2%. The British pound rose slightly against the USD after UK inflation unexpectedly hit a peak for more than a year.
In the US market, key index futures show that Wall Street will open in the red. Investors are closely monitoring the producer price data (PPI) due later in the day to assess the extent of inflation.
Although FED Chairman Jerome Powell had predicted that inflation from tariffs could appear in the summer, there is still not enough convincing data for the Fed to act. The market is now betting on the possibility of a rate cut in September, but the risk is still high if US trade policy continues to escalate.
In that context, gold prices are expected to continue to rise if the Fed delays interest rate cuts and the global financial market remains unstable.
Brent oil prices are trading around 68.5 USD/barrel, down slightly due to concerns that the global economy may be negatively affected by trade tensions, despite positive consumption signals from China.
Investors are now paying attention to a series of second quarter business results reports from financial giants such as Goldman Sachs, Morgan Stanley and Bank of America to assess the real health of the economy.
Economic data to watch next week
Wednesday: US Producer Price Index (PPI).
Thursday: Retail sales, Philly Fed manufacturing survey, US weekly jobless claims.
Friday: Newly started houses, University of Michigan preliminary consumer confidence index.
Note: Gold price data is compared to a day earlier.
See more news related to gold prices HERE...
