SJC gold bar price
As of 5:30 p.m., DOJI Group listed the price of SJC gold bars at 124-125 million VND/tael (buy - sell), an increase of 500,000 VND/tael in both directions compared to a day before. The difference between buying and selling prices is at 1 million VND/tael.
Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 124-125 million VND/tael (buy - sell), an increase of 500,000 VND/tael in both directions compared to a day ago. The difference between buying and selling prices is at 1 million VND/tael.
Phu Quy Jewelry Group listed the price of SJC gold bars at 123-125 million VND/tael (buy - sell), an increase of 300,000 VND/tael for buying and an increase of 500,000 VND/tael for selling compared to a day ago. The difference between buying and selling prices is at 2 million VND/tael.
9999 gold ring price
As of 5:30 p.m., DOJI Group listed the price of gold rings at 117-120 million VND/tael (buy - sell), an increase of 500,000 VND/tael compared to a day ago. The difference between buying and selling is 3 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 117.2-120.2 million VND/tael (buy - sell), an increase of 400,000 VND/tael in both directions compared to a day ago. The difference between buying and selling is 3 million VND/tael.
Phu Quy Gold and Stone Group listed the price of gold rings at 116.8-119 1.8 million VND/tael (buy - sell), an increase of 300,000 VND/tael in both directions compared to a day ago. The difference between buying and selling is 3 million VND/tael.
Currently, the difference between buying and selling gold rings is at a very high level, around 3 million VND/tael, posing a potential risk of loss for investors.
World gold price
The world gold price was listed at 5:18 p.m. at 3,348.7 USD/ounce, up 14.6 USD compared to a day ago.
Gold price forecast
Gold prices increased in the trading session on August 18, supported by falling US Treasury yields, while investors focused on the meeting between US President Donald Trump, Ukrainian President Volodymyr Zelensky and European leaders taking place on the day.
Marc Chandler - CEO of Bannockburn Global Forex - said that gold is building a solid foundation around 3,330 USD/ounce, with an range of 3,250 to 3,400 USD/ounce.
"This causes difficulties for investors following trends, because the market lacks motivation. With a rather light economic calendar for next week, except for the preliminary PMI and the Jackson Hole conference, the possibility of gold continuing to move sideways is very high. I like to buy when the price is adjusted down than sell when the price increases. The bottom at the end of July around $3,270/ounce will be an attractive buying opportunity if it repeats itself, saidMarc Chandler.
Kevin Grady - President of Phoenix Futures and Options - emphasized that interest rates should have decreased earlier. Some have even proposed a 50 basis point reduction. The only factor preventing inflation from increasing is inflation, but if analyzed in detail, the main reason is from tariffs. Eliminate this factor, inflation is only around 2%. I think the Fed should cut at least 25 basis points. If Fed Chairman Jerome Powell had more accurate data on employment in the past two months, the decision to cut interest rates had been made.
Grady also analyzed that the market is still experiencing the shock of the EFP contract. Last week, the EFP gap soared to more than $100, up from just $8 on July 21. After the government announced that gold was not taxed, EFP dropped it to $60. This is a terrible change for banks and physical gold traders. The market has not recovered. The problem is that no one wants to trade if they are not sure about the difference in delivery, because the risk of loss is too great".
Daniel Pavilonis - senior commodity broker at RJO Futures - said that gold is still moving sideways after a series of fluctuations from Swiss gold tax and inflation data: "We have seen gold prices bounce thanks to tax information, then fall again. Stocks recovered, but gold remained stuck within range. I used to predict gold would fall below $3,000/ounce, but now I think prices could increase slightly or maintain the current range.
If the Fed cuts interest rates and inflation increases, it will be a boost for gold. If gold cannot make a new peak by October-November, the risk of prices falling to the 200-day average around $2,964/ounce is real.
Note: Gold price data is compared to a day earlier.
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