Gold price update at the closing session on June 30: Gold rings and gold bars are unlikely to break through in the short term

SJC gold bar price

As of 5:00 PM, Phu Quy Jewelry Group listed SJC gold bar prices at 143.5-147 million VND/tael (buying - selling), down 1.3 million VND/tael on the buying side and down 1 million VND/tael on the selling side. The difference between buying and selling prices is at 3 million VND/tael.

SJC gold bar price is listed by DOJI at 144-147 million VND/tael (buying - selling), down 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 143-146.5 million VND/tael (buying - selling), down 500,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3.5 million VND/tael.

9999 gold ring price

As of 17:00, Phu Quy Gold and Gems Group listed the price of gold rings at the threshold of 143.5-146.5 million VND/tael (buying - selling), down 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.

DOJI listed gold ring prices at 144-147 million VND/tael (buying - selling), down 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 143-146.5 million VND/tael (buying - selling), down 500,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3.5 million VND/tael.

World gold price

At 5:00 PM, world gold prices were listed around the threshold of 4,023.5 USD/ounce, down 24.2 USD compared to the previous day.

Gold price forecast

Gold prices are entering an extremely harsh testing phase. The fact that this precious metal continuously "misses appointments" with important technical support levels, combined with expectations about interest rates in the US, is creating skepticism among investors.

Analyzing the current trend, expert Ole Hansen from Saxo Bank warned about changes in investor behavior: "The failure of gold to maintain its upward momentum shows that market sentiment is very fragile.

Instead of taking advantage of buying when prices fall as before, traders now tend to sell heavily when prices recover". According to Mr. Hansen, to change this situation, gold prices need to surpass the threshold of 4,100 USD/ounce to have a basis to confirm that the bottom has been established.

The biggest pressure on gold currently still comes from a strong USD and expectations that the Fed will raise interest rates to curb inflation. Data from CME FedWatch shows that the probability of an interest rate hike in September is high (64%), as energy prices are escalating due to Middle East tensions that fade hopes for monetary policy easing this year.

The market is currently focusing its attention on upcoming US jobs data, especially the ADP report and nonfarm payrolls, to look for clues about the central bank's interest rate roadmap.

Meanwhile, in the world's largest consumer market, China, developments also show differentiation. Although gold imports in May recorded the highest level since March 2024, signs of cooling down have begun to appear. A report from Gelonghui Finance said that the previous "bottom-fishing" thinking is gradually losing its position as capital net withdrawal from gold ETFs increases sharply.

In addition, the draft relaxing China's gold import and export mechanism, although aimed at streamlining trade procedures, also raises questions about changes in the supervisory structure and impacts on domestic supply and demand.

Faced with uncertain fluctuations from Fed policy and complex developments in the Middle East, gold is lacking clear price-boosting momentum, making investors even more cautious in their disbursement decisions in this period.