SJC gold bar price
As of 8:00 PM, SJC gold bar prices were listed by Bao Tin Minh Chau at the threshold of 169.8-173.5 million VND/tael (buying - selling), down 3.7 million VND/tael on the buying side and down 3.2 million VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 3.7 million VND/tael.
Phu Quy Jewelry Group listed SJC gold bar prices at 170-173.5 million VND/tael (buying - selling), down 3.7 million VND/tael on the buying side and down 3.2 million VND/tael on the selling side. The difference between buying and selling prices is at 3.5 million VND/tael.
9999 gold ring price
As of 8:00 PM, Bao Tin Minh Chau listed the price of gold rings at the threshold of 168.8-171.8 million VND/tael (buying - selling), down 4.2 million 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 the price of gold rings at the threshold of 169.8-173 million VND/tael (buying - selling), down 3.7 million VND/tael on the buying side and down 3.5 million VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 3.2 million VND/tael.
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 8:10 PM, world gold prices were listed around 4,603.8 USD/ounce, down 139 USD compared to the previous day.
Gold price forecast
World gold prices are facing a period of strong fluctuations as many opposing factors simultaneously dominate the market. After rising to the highest level in about two weeks, this precious metal quickly turned down sharply in the context of rising oil prices and expectations that the US Federal Reserve (FED) will soon lower weak interest rates.
New developments in the Middle East are increasing pressure on the commodity market. US President Donald Trump's announcement of continuing attacks on Iran has pushed oil prices up sharply.
According to analysts, rising oil not only raises concerns about inflation but also makes investors more cautious about the possibility of the FED easing monetary policy in the short term. When the general level of interest rates is forecast to remain at a higher level for longer, gold - a non-performing asset - is often disadvantaged.
Mr. Bernard Dahdah - analyst at Natixis - said that since the conflict broke out, gold and oil prices have tended to move in opposite directions.
According to him, when oil prices increase sharply by 6-7%, fears of inflation will return, thereby increasing the perception that the FED cannot cut interest rates soon. This is one of the main reasons why gold prices are under adjustment pressure.
However, the gold market has not necessarily lost its long-term upward trend. Mr. Nikos Tzabouras - senior market analyst at Tradu.com - said that the USD is emerging as a more prioritized safe haven channel in the short term, thereby limiting cash flow into gold.
However, he still believes that structural supporting factors for precious metals have not disappeared and gold still has the opportunity to regain its upward momentum in the near future.
From a technical perspective, the risk of deeper correction still needs to be noted. Some experts warn that if gold does not maintain important support zones, the price may retreat to lower levels before forming a new upward momentum.
In the context of latent inflation, complex geopolitics and still high risk hedging demand, gold is likely to continue to be the focus of attention of global investors in the coming sessions.
Gold price data is compared to the previous day.
See more news related to gold prices HERE...
