SJC gold bar price
As of 5:35 p.m., the price of SJC gold bars was listed by Saigon Jewelry Company at VND 119.7-121.7 million/tael (buy in - sell out); down VND 1 million/tael in both directions. The difference between buying and selling prices is at 2 million VND/tael.
DOJI Group listed at 119.7-121.7 million VND/tael (buy - sell); down 1 million VND/tael in both directions. The difference between buying and selling prices is at 2 million VND/tael.
Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 119.7-121.7 million VND/tael (buy - sell); down 1 million VND/tael in both directions. The difference between buying and selling prices is at 2 million VND/tael.
Phu Quy Jewelry Group listed the price of SJC gold bars at VND 119.2-121.7 million/tael (buy in - sell out); down VND 1 million/tael in both directions. The difference between buying and selling prices is at 2.5 million VND/tael.
9999 gold ring price
As of 5:35 p.m., DOJI Group listed the price of gold rings at 116.5-119 million VND/tael (buy in - sell out), down 500,000 VND/tael in both directions. The difference between buying and selling is 2.5 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 116.7-119 7.5 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 115.7-118.7 million VND/tael (buy in - sell out), down 500,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.
World gold price
The world gold price was listed at 5:40 p.m. at 3,361.7 USD/ounce, down 59 USD compared to 1 day ago.
Gold price forecast
World gold prices are under profit-taking pressure from short-term traders. Improved risk-off sentiment in the market is a negative factor for safe-haven assets.
Gold prices fell sharply after the news of a breakthrough trade deal between the US and Japan, thereby arousing new investors' confidence in the ability to resolve ongoing trade tensions with other major partners before the important deadline on August 1.
The US-Japan trade deal has just been announced as a significant cooling step compared to previously threatened tough measures. The 15% tariffs on Japanese imports into the US much lower than the 25% expected to come into effect on August 1, the agreement said. This comprehensive agreement does not stop at tax adjustments but also includes major economic commitments from Japan, notably a worth-of-US550 billion investment fund for projects in the United States.
The additional terms in the agreement show Japan's commitment to strengthening bilateral economic relations. Accordingly, Japan will buy 100 Boeing aircraft, increase 75% of rice imports from the US and spend an additional 8 billion USD on other agricultural products. Defense spending on US companies will also increase significantly, from the current $14 billion to $17 billion per year.
According to Tim Waterer - Head of Market Analysis at CM Trade Financial Services Company, if more trade deals are signed before August 1, this could continue to boost demand for risky assets and reduce demand for gold. However, if the USD continues to be pressured, gold returning to the $3,500/ounce mark is still a feasible prospect in the short term.
Notable US economic data this week
This week's economic calendar will revolve around the European Central Bank (ECB) interest rate decision, along with a series of data on manufacturing and housing expected to be released.
Wednesday reported US existing home sales in June. By Thursday, the market will receive a series of important information including the ECB's monetary policy decision, preliminary PMI data from S&P, US weekly jobless claims and new home sales.
The last notable data of the week is the US long-term orders report for June, released on Friday morning.
Note: Gold price data is compared to a day earlier.
See more news related to gold prices HERE...
