Gold price update at the close of the session on July 3: Gold bars, gold rings rebound

SJC gold bar price

As of 8:30 PM, Phu Quy Jewelry Group listed SJC gold bar prices at 148-151.4 million VND/tael (buying - selling), an increase of 3 million VND/tael on the buying side and an increase of 2.9 million VND/tael on the selling side. The difference between buying and selling prices is at 3.4 million VND/tael.

SJC gold bar price was listed by DOJI at the threshold of 148.4-151.4 million VND/tael (buying - selling), an increase of 3 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.

SJC gold bar price was listed by Bao Tin Minh Chau at the threshold of 147.5-151 million VND/tael (buying - selling), an increase of 2.5 million VND/tael on the buying side and an increase of 3 million VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 3.5 million VND/tael.

9999 gold ring price

As of 8:30 PM, Phu Quy Gold and Gems Group listed the price of gold rings at 148-151 million VND/tael (buying - selling), an increase of 3 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

DOJI listed the price of gold rings at the threshold of 148.4-151.4 million VND/tael (buying - selling), an increase of 3 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.

Bao Tin Minh Chau listed gold ring prices at the threshold of 147.5-151 million VND/tael (buying - selling), an increase of 2.5 million VND/tael on the buying side and an increase of 3 million VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 3.5 million VND/tael.

World gold price

At 8:30 PM, world gold prices were listed around the threshold of 4,167.2 USD/ounce, up 30.3 USD compared to the previous day.

Gold price forecast

World gold prices are receiving significant support after the US June jobs report was weaker than expected, thereby pulling the USD and US Treasury bond yields down. This development increases expectations that the Fed may become less tough in the near future, although the risk of monetary policy tightening has not completely disappeared.

According to analysts, the precious metal market is benefiting from buying and selling activities and investor defensive sentiment. Gold is currently still heavily affected by two main variables: the USD and US bond yields.

In the short term, if economic data continues to show a weakening US labor market, gold prices may maintain their recovery momentum. Conversely, if inflation heats up again, the Fed may continue to maintain a cautious stance, putting pressure on precious metals.

Technically, the 4,200 USD/ounce zone is being considered an important test threshold. If it crosses this area, gold prices may head towards a higher resistance zone around 4,350 USD/ounce.

In a positive scenario, some analysts believe that gold prices may continue to expand their gains. Conversely, if the support zone around 4,091 USD/ounce is not maintained, adjustment pressure may push prices back to the 4,000 USD/ounce area.

Besides short-term factors, the central bank's gold buying demand continues to be an important support for the long-term trend. A recent OMFIF survey shows that many reserve managers are still positively assessing gold, even expecting prices to trade in the 5,000-6,000 USD/ounce range in the coming year. Meanwhile, the World Gold Council recorded a record rate of central banks expecting to increase gold holdings in the next 12 months.

Goldman Sachs also maintains an optimistic view, saying that demand from the formal sector will continue to be one of the major pillars of the market. The bank forecasts that gold prices may approach 4,900 USD/ounce next year.

In general, gold prices may still fluctuate strongly according to US inflation data, Fed policy expectations and geopolitical developments. However, strategic buying power from central banks is still strengthening the upward outlook in the medium and long term.