Gold price update at the close of the session on July 2: World gold prices increase

SJC gold bar price

As of 7:00 PM, Phu Quy Jewelry Group listed SJC gold bar prices at 145-148.5 million VND/tael (buying - selling), an increase of 2 million VND/tael on the buying side and an increase of 2.1 million VND/tael on the selling side. The difference between buying and selling prices is at 3.5 million VND/tael.

SJC gold bar price was listed by DOJI at the threshold of 145.4-124.4 million VND/tael (buying - selling), an increase of 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.

SJC gold bar prices were listed by Bao Tin Minh Chau at the threshold of 145-148 million VND/tael (buying - selling), an increase of 2.5 million VND/tael on the buying side and an increase of 2 million VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

9999 gold ring price

As of 5:00 PM, Phu Quy Gold and Gems Group listed the price of gold rings at 145-148 million VND/tael (buying - selling), an increase of 2 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

DOJI listed the price of gold rings at 145.4-124.4 million VND/tael (buying - selling), an increase of 2 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 145-148 million VND/tael (buying - selling), an increase of 2.5 million VND/tael on the buying side and an increase of 2 million VND/tael on the selling side. The difference between buying and selling prices is at 3 million VND/tael.

World gold price

At 7:45 PM, world gold prices were listed around the threshold of 4,136.9 USD/ounce, up 112.5 USD compared to the previous day.

Gold price forecast

World gold prices are receiving strong support after the latest data shows that the US labor market is showing clear signs of slowing down.

The June non-farm payroll report showed that the US economy only created 57,000 jobs, much lower than the forecast of about 114,000 jobs by experts. This development has raised expectations that the US Federal Reserve (Fed) will soon ease monetary policy, thereby supporting gold prices to rise.

After the data was released, spot gold prices rebounded sharply, at times exceeding the threshold of 4,100 USD/ounce and maintaining an increase of more than 2% during the day. According to economic experts, weaker-than-expected job numbers show that the growth momentum of the US labor market is no longer as solid as before. This reduces the attractiveness of the USD and bond yields, two factors that often put pressure on the precious metal.

Previously, gold prices had a recovery momentum when they maintained an important support zone around 4,000 USD/ounce. The fact that the precious metal did not penetrate this price zone shows that bottom-fishing buying power is still quite good.

However, the market is still in a cautious state because the USD and US bond yields are still anchored at high levels. The yield of 10-year US Treasury bonds around the 4.5% range continues to be a factor that may limit the upward momentum of gold in the short term.

Some analysts believe that the outlook for gold prices currently depends heavily on upcoming US economic data, especially the indicator group related to jobs, inflation and interest rate policy. If the data continues to show a weakening US economy, gold may extend its upward momentum as investors seek safe-haven assets and bet on the possibility of the Fed reducing interest rates. Conversely, if data recovers strongly, the USD and bond yields may rise again, putting pressure on gold prices.

Besides the interest rate factor, geopolitical risks in the Middle East are still a variable to monitor. Oil transportation through the Strait of Hormuz has recovered faster than expected, helping to cool down concerns about the energy shock.

However, the risk of supply disruption has not completely disappeared. In this context, gold still has a basis to be supported, but the upward momentum may fluctuate strongly according to new information from the US economy and geopolitical situation.