Update SJC gold price
Last week, gold bar prices fluctuated slightly after a long period of moving sideways. However, PV Lao Dong's records at a number of gold stores in Hanoi on July 20 showed that most stores announced they would not sell SJC gold bars.
Mr. Le Minh Quan (employee at a gold store on Cau Giay Street - Hanoi) said: "The store still temporarily stops trading SJC gold bars, and 9999 plain round rings, if in stock, are still open for sale normally. This morning the store opened to sell gold rings from 10am, but about 20 minutes later stopped accepting customers because it was out of stock."
Round gold ring price 9999
As of 5:30 p.m. today, the price of 9999 Hung Thinh Vuong round gold ring at DOJI was listed at 75.90-77.15 million VND/tael (buy - sell); Reduced 200,000 VND/tael for both buying and selling.
Saigon Jewelry Company lists gold ring prices at 75.7-77.1 million VND/tael (buy - sell); Discount 100,000 VND/tael for both buying and selling.
Bao Tin Minh Chau listed the gold ring price at 75.93-77.23 million VND/tael (buy - sell); Discount 150,000 VND/tael for both buying and selling.
In recent sessions, gold ring prices often fluctuate in the same direction as the world market. Investors can refer to world markets and expert opinions before making investment decisions.
World gold price
As of 6:30 p.m. today, the world gold price listed on Kitco is at 2,400.8 USD/ounce, down 10.8 USD/ounce compared to yesterday's closing session.
Gold price forecast
World gold prices plummeted amid an increase in the USD index. Recorded at 5:00 p.m. on July 20, the US Dollar Index measuring the fluctuation of the greenback with 6 major currencies was at 104,065 points (up 0.17%).
Kitco News' latest weekly gold survey shows industry experts are returning to a balanced stance, while retail sentiment remains bullish on gold prices next week.
16 Wall Street analysts participated in the Kitco News Gold Survey. The results show a return to a balanced and uncertain outlook after weeks of positive forecasts for the precious metal.
Six experts expect gold prices to rise next week. There are also six experts predicting a price drop. The remaining four analysts believe that gold will trend sideways next week.
Meanwhile, 168 votes were cast in Kitco's online poll. Main Street investors remain optimistic about gold's short-term prospects. However, expectations have also decreased compared to last week.
103 retail traders forecast gold prices to rise next week. Another 36 expect precious metals to trade lower. There are 29 people who think that gold price will go sideways.
Next week, investors will pay attention to key inflation data with the release of the June US Core Personal Consumption Expenditures Index on Friday morning. The inflation index may help the FED provide confirmation on the timing of interest rate cuts. Economists said weaker inflation data would give the central bank room to cut interest rates.
Traders will also keep an eye on key housing data with existing home sales on Tuesday and new home sales on Wednesday. The Bank of Canada will make a decision on monetary policy on Wednesday.
