SJC gold bar price
Closing the week's trading session, Saigon SJC Jewelry Company listed SJC gold price at 158.5-161.5 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.
Compared to the closing session of last week's trading (May 17), the price of SJC gold bars at Saigon SJC Jewelry Company decreased by 2 million VND/tael in both buying and selling directions.
Meanwhile, DOJI listed SJC gold price at 158.5-161.5 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.
Compared to the closing session of last week (May 17), the price of SJC gold bars at DOJI decreased by 2 million VND/tael in both buying and selling directions.
If buying SJC gold bars on May 17 and selling them on today's session (May 24), buyers at Saigon Jewelry Company SJC and DOJI will both lose 5 million VND/tael.
9999 gold ring price
At the same time, DOJI Group listed the price of gold rings at 158.5-161.5 million VND/tael (buying - selling), down 2 million VND/tael in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.
Phu Quy Gold and Gems Group listed the price of gold rings at 158.5-161.5 million VND/tael (buying - selling), down 2 million VND/tael in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.
If buying gold rings on May 17 and selling them on today's session (May 24), buyers at DOJI and Phu Quy will both lose 5 million VND/tael.
World gold price
Closing the weekly trading session, world gold prices were listed at 4,508.5 USD/ounce, down 30.7 USD compared to a week ago.
Gold price forecast
Pressure from high US bond yields and the cautious stance of the US Federal Reserve (Fed) are making the short-term outlook for the gold market less positive. Although geopolitical tensions in the Middle East have not cooled down, the precious metal has continuously been under selling pressure in recent sessions.
Analysts believe that gold is in a sensitive phase when the market must simultaneously consider between safe-haven demand and the risk of interest rates remaining at a higher level longer than expected. The rising USD and rising US bond yields continue to reduce the attractiveness of gold - a non-performing asset.
Mr. Marc Chandler - Managing Director of Bannockburn Global Forex - said that gold prices have lost the important support zone around the 4,500 USD/ounce mark, but are currently mainly fluctuating and accumulating above this area. According to him, gold has not yet shown strong enough signals to return to a clear upward trend.
This expert believes that if gold prices surpass the 4,600 USD/ounce zone, the market may regain momentum to go up. Conversely, the risk of deep decline is still present when the price is likely to retreat to the 4,370 USD/ounce zone - corresponding to the 200-day moving average line.
Mr. Marc Chandler also noted that the prolonged conflict in the Middle East may cause some countries to increase sales of gold reserves to support financial liquidity, thereby creating more pressure on the world gold market.
Meanwhile, Mr. Rich Checkan - Chairman of Asset Strategies International - predicts that gold prices may continue to fall next week. According to him, the fragile signals of a ceasefire between the US and Iran are gradually weakening, while the controversy related to the nuclear program has not been resolved. However, the factor that has the strongest impact on gold at this time is still US monetary policy.
Mr. Rich Checkan believes that the recent sharp increase in US inflation data has almost eliminated the possibility of the Fed early interest rate cuts. Even the market is beginning to worry about the risk of interest rate hikes returning. A high interest rate environment is often detrimental to gold because it increases the opportunity cost of holding this asset.
The latest survey by Kitco News shows that cautious sentiment still dominates Wall Street. Up to 62% of surveyed experts predict gold prices will continue to fall next week, while only 15% believe prices are likely to rise again.
Gold price data is compared to a week earlier.
See more news related to gold prices HERE...
