SJC gold bar price
As of 5:50 PM, SJC gold bar prices were listed by DOJI at 158.5-161.5 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 3 million VND/tael.
SJC gold bar price was listed by Bao Tin Minh Chau at the threshold of 158.5-161.5 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 SJC gold bar prices at the threshold of 156.3-161.5 million VND/tael (buying - selling), down 700,000 VND/tael on the buying side and down 500,000 VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 3.2 million VND/tael.
9999 gold ring price
As of 5:50 PM, DOJI listed the price of gold rings at the threshold of 158.5-161.5 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.
Bao Tin Minh Chau listed the price of gold rings at 158.5-161.5 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 3 million VND/tael.
Phu Quy Jewelry Group listed the price of gold rings at the threshold of 158.3-161.3 million VND/tael (buying - selling), down 700,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.
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 5:50 PM, world gold prices were listed around the threshold of 4,532.9 USD/ounce, down 33.1 USD compared to the previous day.
Gold price forecast
World gold prices are under downward pressure as tensions between the US and Iran have not shown signs of cooling down, leading to increased concerns about inflation and overshadowing the prospect of monetary policy easing by the US Federal Reserve (Fed).
According to analysts, the sharp increase in Brent oil prices after US military airstrikes on Iran has raised market concerns about the risk of inflation returning. This development may force the Fed to maintain a higher interest rate level longer than expected, thereby putting pressure on gold - an unprofitable asset.
Mr. Ricardo Evangelista - senior analyst at ActivTrades - said that geopolitical instability has pushed oil prices up, while increasing expectations that the Fed will continue to pursue a "hawkish" stance.
The least resistant path for gold prices at this time is still downwards. The market will continue to closely monitor the developments of US-Iran negotiations as well as the upcoming US PCE inflation data" - Mr. Ricardo Evangelista said.
Investors are currently particularly interested in the US Personal Consumption Expenditure (PCE) index - the Fed's preferred inflation measure. If data continues to show high price pressure, the possibility of the Fed raising interest rates once again this year will increase, adversely affecting precious metals.
According to CME Group's FedWatch tool, the market is betting about 41% on the Fed's ability to raise interest rates by another 25 basis points by the end of the year.
Meanwhile, UBS bank also just lowered its year-end gold price forecast to 5,500 USD/ounce, down 400 USD compared to before, due to concerns about bond yields and the strength of the USD continuing to remain high.
However, some experts still believe that the long-term outlook for gold is not completely negative. According to Mr. Stephen Innes - management partner at SPI Asset Management, the recent gold price drop has more "liquidity sell-off" factors than the reversal of the long-term upward trend.
Mr. Stephen Innes believes that as the negative impacts from high energy prices begin to put pressure on global economic growth, central banks may be forced to return to softer monetary policy. This may be a supporting factor for gold in the medium and long term.
Gold price data is compared to the previous day.
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