SJC gold bar price
As of 7:00 PM, SJC gold bar prices were listed by Bao Tin Minh Chau at 171-174.5 million VND/tael (buying - selling), an increase of 1.2 million VND/tael on the buying side and an increase of 1 million VND/tael on the selling side. The difference between buying and selling prices is at 3.5 million VND/tael.
Phu Quy Jewelry Group listed SJC gold bar prices at 171-174.5 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 3.5 million VND/tael.
9999 gold ring price
As of 7:00 PM, Bao Tin Minh Chau listed the price of gold rings at 169.5-172.5 million VND/tael (buying - selling), an increase of 700,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.
Phu Quy Gold and Gems Group listed the price of gold rings at 171-174 million VND/tael (buying - selling), an increase of 1.2 million VND/tael on the buying side and an increase of 1 million VND/tael on the selling side. The difference between buying and selling prices is at 3 million VND/tael.
Currently, 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 7:00 PM, world gold prices were listed around the threshold of 4,676 USD/ounce, up 72.2 USD compared to the previous day.
Gold price forecast
World gold prices are closing the trading week with a significant increase, but actual developments show that this precious metal has not yet escaped a strong state of stalemate.
Despite a surge of about 3% during the week and maintaining above the 4,600 USD/ounce range, gold prices have not yet been able to conquer the important resistance level of 4,800 USD/ounce. This reflects the cautious sentiment of investors as the market is simultaneously affected by geopolitical tensions, oil price fluctuations and monetary policy expectations in the US.
On the one hand, instability in the Middle East continues to maintain the need to hedge against risks, thereby creating a certain support for gold. However, on the contrary, the upward momentum of the USD and concerns about prolonged inflation have weakened the rebound of precious metals.
When energy prices are high, the market tends to consider the possibility that central banks will maintain a cautious stance on interest rates, making the opportunity cost of holding gold continue to be a factor of pressure in the short term.
Notably, some experts believe that the gold market currently does not have a clear trend but mainly fluctuates in the new balance zone. Mr. Alex Kuptsikevich - market analyst at FxPro - said that the 4,200 USD/ounce mark is a region that needs to be monitored in the medium term.
According to him, if the price retreats to this area but still maintains the recovery momentum, the longer upward trend of gold has not been broken. Conversely, if it falls deeply below this threshold, the risk of reversal will be clearer.
From a more positive perspective, Mr. Nick Cawley - market analyst at Solomon Global - believes that gold is still in the process of recovering after the previous strong sell-off.
According to this expert, the 5,000 USD/ounce mark currently has more psychological meaning than an absolute technical resistance level. If this price range is surpassed in the near future, the market may regain expectations towards new peaks.
In the short term, gold prices are likely to continue to fluctuate strongly according to US economic data, especially inflation, employment and signals from the US Federal Reserve. The upward trend of gold has not been denied, but to clearly break through, the market still needs more strong enough momentum to overcome the 4,800 USD/ounce resistance zone.
Gold price data is compared to the previous day.
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