Gold price update at the closing session on May 29: Gold rings and gold bars simultaneously increase

SJC gold bar price

As of 7:45 PM, SJC gold bar prices were listed by DOJI at 155.5-158.5 million VND/tael (buying - selling), an increase of 1 million 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 155.5-158.5 million VND/tael (buying - selling), an increase of 1 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.

Phu Quy Jewelry Group listed SJC gold bar prices at 155.5-158.5 million VND/tael (buying - selling), an increase of 1 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

9999 gold ring price

As of 7:45 PM, DOJI listed the price of gold rings at 155.5-158.5 million VND/tael (buying - selling), an increase of 1 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 the threshold of 155.5-158.5 million VND/tael (buying - selling), an increase of 1 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.

Phu Quy Jewelry Group listed the price of gold rings at 155-158 million VND/tael (buying - selling), an increase of 500,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at 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 7:45 PM, world gold prices were listed around the threshold of 4,514.6 USD/ounce, an increase of 132.5 USD compared to the previous day.

Gold price forecast

World gold prices are recovering after falling to the lowest level in about two months. However, the general trend of precious metals is still under great pressure as the market continues to consider the impact of geopolitical tensions, inflation and the prospects of US monetary policy.

According to analysts, information about the possibility of extending the ceasefire agreement between the US and Iran has somewhat stabilized investor sentiment, thereby supporting gold prices to reverse and increase again.

Mr. Brian Lan - CEO of GoldSilver Central - said that gold prices had experienced strong downward pressure at one point, but information related to the ceasefire agreement caused the market to reverse quickly.

However, the short-term outlook for gold prices is still not really clear. Investors are waiting for more solid signals about the agreement between the US and Iran, especially in the context that information related to the Strait of Hormuz may directly affect oil prices and global inflation expectations. If energy prices cool down, inflationary pressure may ease, thereby helping gold avoid part of the pressure from high interest rate expectations.

In the opposite direction, inflation in the US is still a factor that makes the market cautious. Rapid inflation strengthens the view that the US Federal Reserve (Fed) may maintain high interest rates for a long time. This is a disadvantage for gold, because precious metals do not yield interest, while stronger bond yields and the USD increase the cost of gold holding opportunities.

However, some experts believe that the long-term upward trend of gold is not over. Mr. Tom Winmill - portfolio manager at Midas Discovery Fund - said that the foundational factors supporting gold are still there, including the central bank's demand for gold, geopolitical risks, persistent inflationary pressure and the decline in confidence in the reserve role of the USD.

According to Mr. Winmill, if real interest rates tend to decrease in the near future, gold and tangible assets may become more attractive. This shows that although gold prices still fluctuate strongly in the short term, the precious metal is still supported by many long-term factors.