SJC gold bar price
As of 4:55 p.m., DOJI Group listed the price of SJC gold bars at 148.3-150.3 million VND/tael (buy in - sell out), down 700,000 VND/tael in both directions. The difference between buying and selling prices is at 2 million VND/tael.
The price of SJC gold bars was listed by Bao Tin Minh Chau at 148.8-150.3 million VND/tael (buy - sell), down 700,000 VND/tael in both directions. The difference between buying and selling prices is at 1.5 million VND/tael.
Phu Quy Jewelry Group listed the price of SJC gold bars at 147.3-150.3 million VND/tael (buy in - sell out), down 700,000 VND/tael in both directions. The difference between buying and selling prices is at 3 million VND/tael.
9999 gold ring price
As of 4:55 p.m., DOJI Group listed the price of gold rings at 146.2-149.2 million VND/tael (buy in - sell out), down 300,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 147.8-150.8 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 147-150 million VND/tael (buy in - sell out), down 300,000 VND/tael in both directions. The difference between buying and selling prices is at 3 million VND/tael.
The high buying and selling distance increases the risk for individual investors. Personal investors, especially those with a "surfing" mentality, need to consider carefully before putting money down.
World gold price
The world gold price was listed at 4:52 p.m., at 4,060.6 USD/ounce, down 53.5 USD compared to a day ago.
Gold price forecast
Gold prices fell in the fourth session, under pressure from a stronger US dollar and market expectations of a possible US Federal Reserve (FED) interest rate cut in December, as investors focused on the US employment report being delayed.
Gold prices are currently falling mainly due to expectations of a rate cut that have been significantly narrowed in the past two weeks, said Kelvin Wong, senior market analyst at OANDA.
In the short term, this has caused gold prices to continue to lose weight below the 4,100 USD threshold. I see resistance at $4,155, and gold could trade near $4,000-3,980.
The USD index rose to a two-week high against major currencies, making gold more expensive for holders of other currencies.
Minutes from the Fed's October meeting released on Wednesday showed the central bank has cut interest rates, although policymakers warned that this move could prolong inflation and undermine public confidence in the Fed.
According to CME Group's FedWatch tool, traders now only see a nearly 33% chance of the Fed cutting interest rates at its December 9-10 meeting, down from 49% on Wednesday.
Gold - non-yielding assets often increase in price in low interest rate environments and during periods of economic instability.
The focus is now on the US non-farm payrolls report for September, due to the delay in the government shutdown. This data is expected to provide additional signals about the Fed's policy path.
Economists participating in the Reuters survey predict the report will show an increase of 50,000 new jobs in the month.
SPDR Gold Trust, the world's largest gold ETF, said its holdings rose 0.22% to 1,043.72 tonnes on Wednesday, up from 1,041.43 tonnes on Tuesday.
Notable US economic data for the week
Thursday: Philly FED Production Survey, Weekly Unemployment claims, existing home sales.
Friday: S&P's preliminary PMI, University of Michigan Consumer Confidence Index.
* Gold price data is compared to a day earlier.
See more news related to gold prices HERE...
