SJC gold bar price
Closing the week's trading session, Saigon SJC Jewelry Company listed SJC gold prices at 160.5-163.5 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.
Compared to the closing session of last week (May 10), the price of SJC gold bars at Saigon SJC Jewelry Company decreased by 4 million VND/tael in both buying and selling directions.
Meanwhile, DOJI listed SJC gold price at 160.5-163.5 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.
Compared to the closing session of last week (May 10), SJC gold bar price at DOJI decreased by 4 million VND/tael in both buying and selling directions.
If buying SJC gold bars in the May 10th session and selling them in today's session (May 17th), buyers at Saigon Jewelry Company SJC and DOJI will both lose 7 million VND/tael.
9999 gold ring price
At the same time, DOJI Group listed the price of gold rings at 160.5-163.5 million VND/tael (buying - selling), down 4 million VND/tael in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.
Phu Quy Jewelry Group listed the price of gold rings at 160.5-163.5 million VND/tael (buying - selling), down 3.8 million VND/tael in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.
If buying gold rings on May 10 and selling them today (May 17), buyers at DOJI will lose 7 million VND/tael; while buyers at Phu Quy will lose 6.8 million VND/tael.
World gold price
Closing the week's trading session, world gold prices were listed at 4,539.2 USD/ounce, down 174.5 USD compared to a week ago.
Gold price forecast
World gold prices closed the trading week under strong pressure as many unfavorable factors appeared at the same time. The rise of the USD, rising US bond yields and persistent inflation concerns weakened demand for gold holdings. Although geopolitical tensions in the Middle East are still a supporting factor, this support is not enough to help precious metals maintain important price zones.
According to Kitco News, the new week's gold survey shows that Wall Street analysts strongly lean towards negative scenarios. Among 13 experts surveyed, only 2 people, equivalent to 15%, predicted gold prices would increase; 10 people, equivalent to 77%, thought gold prices would decrease; the remaining 1 person predicted prices would go sideways. Conversely, individual investors still maintained a more optimistic sentiment when 59% of survey participants expected gold prices to increase next week.
Mr. Marc Chandler - Managing Director of Bannockburn Global Forex - said that rising interest rates and a stronger greenback put pressure on gold prices at the end of the week. According to this expert, gold has broken through the short-term volatility zone and fallen to the lowest level in 8 days. He warned that if gold prices do not hold the 4,500 USD/ounce mark, the market may face further downward pressure, heading towards the 4,350 USD/ounce zone.
Meanwhile, Mr. Adrian Day - Chairman of Adrian Day Asset Management - said that gold prices may continue to fluctuate strongly as supporting and sessional pressure factors dominate the market. In the short term, high oil prices and the trend of central banks leaning towards tighter monetary policy may put pressure on gold. However, in the long term, persistent buying power from central banks is still a supporting factor for precious metals.
Next week, the market will monitor a series of US economic data such as shelter sales, number of unemployment claims, Philadelphia Fed manufacturing survey, PMI index and Michigan University consumer confidence.
The minutes of the Fed meeting are also the focus, because interest rate signals will directly affect the USD, bond yields and gold prices. In the context that inflation is still a major risk, gold prices are forecast to continue to fluctuate strongly, investors need to be cautious with the buying-selling spread in the country.
Gold price data is compared to a week earlier.
See more news related to gold prices HERE...
