Gold price update closing session 20:4: Simultaneous decline

SJC gold bar price

As of 5:00 PM, SJC gold bar prices were listed by DOJI at the threshold of 168.3-171.3 million VND/tael (buying - selling), down 200,000 VND/tael on the buying side and down 700,000 VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

SJC gold bar price was listed by Bao Tin Minh Chau at the threshold of 168.3-171.3 million VND/tael (buying - selling), down 200,000 VND/tael on the buying side and down 700,000 VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

Phu Quy Jewelry Group listed the price of SJC gold bars at the threshold of 168.3-171.3 million VND/tael (buying - selling), down 200,000 VND/tael on the buying side and down 700,000 VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

9999 gold ring price

As of 17:00, DOJI listed the price of gold rings at the threshold of 168.3-171.3 million VND/tael (buying - selling), down 200,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

Bao Tin Minh Chau listed gold ring prices at the threshold of 168-171 million VND/tael (buying - selling), down 500,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

Phu Quy Jewelry Group listed gold ring prices at the threshold of 168-171 million VND/tael (buying - selling), down 500,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 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 5:00 PM, world gold prices were listed around the threshold of 4,792.7 USD/ounce, down 36.7 USD compared to the previous day.

Gold price forecast

World gold prices opened the week in a state of correction, as the USD appreciated and inflationary pressure returned after new developments related to US-Iran tensions.

The sharp increase in oil prices has raised concerns about rising energy costs, thereby causing the market to lean more towards the possibility that the US Federal Reserve (Fed) must maintain a cautious stance on interest rates. This is a significant factor putting pressure on gold in the short term.

Current developments show that gold is struggling between two opposing forces. On the one hand, precious metals often benefit when geopolitical instability increases. On the other hand, as the greenback and US bond yields rise, gold's attractiveness decreases because investors tend to prioritize holding USD or better profitable assets.

Mr. Han Tan - chief market analyst at Bybit - said that the increase in oil prices after last week's fluctuations made the inflation risk more apparent, thereby weakening the safe-haven role of gold.

According to him, in the current context of conflict, the USD is temporarily dominating gold as a defensive channel for investors. This assessment shows that gold prices this week may still fluctuate below the 5,000 USD/ounce range if tensions show no signs of sustained cooling down.

However, the medium-term outlook for gold is not necessarily negative. Mr. Nikos Tzabouras - senior market analyst at Tradu.com - believes that the foundational drivers supporting gold are still present, including buying power from central banks, the trend of diversifying reserves and the need to hedge against monetary risks. This may be a factor helping gold prices avoid too deep drops.

This week, investors are likely to continue to closely monitor developments in the Middle East, fluctuations in oil prices, the strength of the USD and new signals about US monetary policy. If inflationary pressure continues to heat up, gold may still be subject to adjustment. But if defensive sentiment returns stronger, the precious metal still has a chance to recover.