SJC gold bar price
As of 6:30 p.m., DOJI Group listed the price of SJC gold bars at VND133-135 million/tael (buy in - sell out), an increase of VND500,000/tael in both directions. The difference between buying and selling prices is at 2 million VND/tael.
Bao Tin Minh Chau listed the price of SJC gold bars at 133-135 million VND/tael (buy - sell), an increase of 500,000 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 132.5-135 million VND/tael (buy - sell), an increase of 500,000 VND/tael in both directions. The difference between buying and selling prices is at 2.5 million VND/tael.
9999 gold ring price
As of 6:30 p.m., DOJI Group listed the price of gold rings at 128.8-131.8 million VND/tael (buy - sell), an increase of 300,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 129.1-132.1 million VND/tael (buy - sell), an increase of 100,000 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 128.8-131.8 million VND/tael (buy in - sell out), an increase of 300,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.
The buying-selling gap is pushed up too high, increasing the risk for individual investors. Personal investors, especially those with a "surfing" mentality, need to consider carefully before putting money down.
World gold price
The world gold price was listed at 6:30 p.m. at 3,758.7 USD/ounce, up 74.7 USD compared to a week ago.
Gold price forecast
Gold prices have just ended a vibrant week, approaching $3,800/ounce. Driving by concerns about US public debt and weak USD purchasing power continue to support the precious metal.
The precious metal continues to attract great attention as confidence in the purchasing power of the USD and other currencies has declined. The US government is also at risk of having to close if the Congress does not pass the budget bill before September 30.
Even if the two parties reach an agreement, damage has occurred, because the US government will continue to pump large amounts of bonds into the market, increasing public debt.
According to Neils Christensen - an analyst at Kitco News, as many investors and countries lose confidence in the USD, US Treasury bond yields will increase. In this context, gold is still considered the last global monetary asset. Therefore, the latest price increase comes as prices are close to record levels.
Prices are meaningless as gold is considered an assurance to preserve assets. As evidence, the world's largest gold ETF SPDR Gold Shares (NYSE: GLD) recorded a record one-day capital flow of more than 18 tons of gold last Friday.
Barbara Lambrecht - commodity analyst at Commerzbank - commented that the market may need a new "fire" to push prices above $3,800, for example, a US jobs report disappointed for the third consecutive time. However, she predicted that the US labor market may improve slightly.
Although optimism is dominant, some experts advise investors to be cautious at the current price.
David Morrison - senior analyst at Trade Nation - warned: "The yesterday MacD index is still too much to buy. Gold may need to adjust deeper or move sideways for a while to accumulate more momentum before reaching a new peak. However, I believe gold will soon hit a new record before creating a long-term peak.
Notable economic data next week
Monday: Waiting for signing a house contract (USA).
Tuesday: JOLTS job positions (USA), Consumer confidence index (USA).
Wednesday: ADP Private sector Employment Report (US), ISM Manufacturing PMI.
Thursday: Application for weekly unemployment benefits (US).
Friday: US Non-farm Payrolls, ISM Services PMI.
Note: Domestic gold price data is compared to a day earlier.
See more news related to gold prices HERE...
