SJC gold bar price
As of 6:30 p.m., the price of SJC gold bars was listed by Saigon Jewelry Company at VND 119.6-121.1 million/tael (buy in - sell out); unchanged. The difference between buying and selling prices is at 1.5 million VND/tael.
DOJI Group listed at 119.6-121.1 million VND/tael (buy - sell); unchanged. The difference between buying and selling prices is at 1.5 million VND/tael.
Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 119.6-121.1 million VND/tael (buy in - sell out); unchanged. The difference between buying and selling prices is at 1.5 million VND/tael.
Phu Quy Jewelry Group listed the price of SJC gold bars at 118.8-121.1 million VND/tael (buy in - sell out); unchanged. The difference between buying and selling prices is at 2.3 million VND/tael.
9999 gold ring price
As of 6:30 p.m., DOJI Group listed the price of gold rings at 116-118.5 million VND/tael (buy in - sell out), unchanged. The difference between buying and selling is 2.5 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 116.2-119.2 million VND/tael (buy in - sell out), unchanged. The difference between buying and selling is 3 million VND/tael.
Phu Quy Gold and Stone Group listed the price of gold rings at 115.1-118.1 million VND/tael (buy in - sell out), unchanged. The difference between buying and selling is 3 million VND/tael.
World gold price
The world gold price was listed at 10:25 p.m. at 3,334.8 USD/ounce, down 1.2 USD compared to 1 day ago.
Gold price forecast
World gold prices are in a state of tug-of-war as risk sentiment has improved following a trade deal between the US and the European Union (EU).
The US reached a trade framework agreement with the EU in Scotland on Sunday, which imposed a 15% import tax on most EU goods at half of the previous threat level, thereby avoiding a larger-scale trade war.
Risk-off sentiment has spread in the financial market, with European stocks rising to a four-month high, led by auto and pharmaceutical stocks.
At the same time, talks between the US and China are scheduled to take place on Monday in Stockholm, amid expectations that the world's two largest economies will continue to extend the trade ceasefire agreement for another 90 days.
There are two opposing factors that are keeping gold prices in a state of balance. The US-EU trade deal reduces demand for safe-haven assets, said UBS commodity analyst Giovanni Staunovo.
However, this deal also partly reduces inflation uncertainty for the US Federal Reserve (FED), which could facilitate the Feds rate cuts later in the year which is typically in the interest rate of gold, he added.
Investors are now shifting their attention to the Fed's policy meeting this weekend.
The Fed is expected to keep the benchmark interest rate unchanged at around 4.25% - 4.50% after a two-day policy meeting ended on Wednesday. The market is still pricing in the possibility of a rate cut in September.
US President Donald Trump said on Friday he had a positive meeting with Fed Chairman Jerome Powell, suggesting the possibility of the Fed leaning towards cutting interest rates.
Gold often benefits in a low interest rate environment.
Investors are currently waiting for a series of economic data. Gold prices are facing many potential fluctuations as this information can strongly affect risk sentiment, interest rate expectations and the strength of the USD.
Economic data to watch this week
Tuesday: New employment numbers (JOLTS), US consumer confidence.
Wednesday: ADP employment data, US preliminary GDP, Bank of Canada monetary policy decision, pending home sales, FED interest rate decision, Bank of Japan decision.
Thursday: US PCE, weekly jobless claims.
Friday: US non-farm payrolls, ISM manufacturing PMI.
Note: Gold price data is compared to a day earlier.
See more news related to gold prices HERE...
