Update SJC Gold Prices
9999 Round Gold Ring Prices
As of 6 PM today, 9999 round gold ring prices at DOJI are listed at 75.85-77.10 million VND/tael (buy - sell); up 50,000 VND/tael in both directions compared to the previous trading session.
Saigon Jewelry Company listed gold ring prices at 75.6-77.05 million VND/tael (buy - sell); up 100,000 VND/tael on the buying side and up 50,000 VND/tael compared to the previous trading session.
Bao Tin Minh Chau listed gold ring prices at 75.88-77.08 million VND/tael (buy - sell); unchanged from the previous trading session.
In recent sessions, gold ring prices have often fluctuated in line with the global market. Investors can refer to the global market and expert opinions before making investment decisions.
Global Gold Prices
As of 6:30 PM today, global gold prices listed on Kitco are at 2,388.9 USD/ounce, up 2.8 USD/ounce compared to the close of last week's trading session.
Gold Price Forecast
Global gold prices are rising despite the USD index increasing. As of 6:30 PM, the US Dollar Index, which measures the greenback's volatility against six major currencies, is at 104.262 points (up 0.19%).
Gold prices tend to rise with the potential for the US Federal Reserve (FED) to cut interest rates in September and amid increasing geopolitical tensions in the Middle East, while investors shift their focus to the FED meeting this week.
The FED will meet over two days, July 30-31, and is expected to keep interest rates at 5.25-5.5%. However, the unexpected rise in the June 2024 unemployment rate, cooling inflation, and statements from top FED officials suggest a potential 25 basis point rate cut in September 2024.
Gold, a safe-haven asset in times of economic and geopolitical risk, typically increases in value under low-interest conditions.
The latest weekly gold survey by Kitco News shows that industry experts are once again more optimistic, while retail sentiment has further improved compared to last week.
This week, 16 analysts participated in the Kitco News gold survey. The survey shows new optimism about the short-term outlook for the precious metal.
7 experts believe gold prices will rise next week. Only 4 predict prices will fall. The remaining 5 analysts forecast gold prices will remain flat this week.
Meanwhile, 193 votes were cast in Kitco's online poll. Main Street investors are more optimistic about gold prices than last week.
127 traders expect gold prices to rise next week. Another 37 expect the precious metal to decline. While the remaining 29 believe gold will remain flat this week.
