SJC gold bar price
As of 5:30 PM, Phu Quy Jewelry Group listed SJC gold bar prices at 139.7-142.7 million VND/tael (buying - selling), an increase of 900,000 VND/tael in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.
SJC gold bar price is listed by DOJI at the threshold of 139.7-142.7 million VND/tael (buying - selling), an increase of 900,000 VND/tael in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.
SJC gold bar price was listed by Bao Tin Minh Chau at the threshold of 140.5-144.5 million VND/tael (buying - selling), an increase of 1.3 million VND/tael in both directions. The difference between buying and selling prices is at the threshold of 4 million VND/tael.
9999 gold ring price
As of 5:30 PM, Phu Quy Gold and Gems Group listed the price of gold rings at the threshold of 139.7-142.7 million VND/tael (buying - selling), an increase of 900,000 VND/tael in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.
DOJI listed the price of gold rings at 140-144 million VND/tael (buying - selling), an increase of 1.5 million VND/tael in both buying and selling directions. The difference between buying and selling is at 4 million VND/tael.
Bao Tin Minh Chau listed gold ring prices at the threshold of 140.5-144.5 million VND/tael (buying - selling), an increase of 1.3 million VND/tael in both directions. The difference between buying and selling prices is at the threshold of 4 million VND/tael.
World gold price
At 5:30 PM, world gold prices were listed around the threshold of 4-267.6 USD/ounce, up 103.8 USD/ounce.
Gold price forecast
World gold prices are maintaining a positive trend after rising to the highest level in about 7 weeks. The upward momentum is supported by the weakening of the USD, cooling down US bond yields and job data showing that the world's largest labor market shows signs of losing momentum.
The latest report shows that the US private sector only created 44,000 jobs in July, significantly lower than the forecast of 75,000 jobs. Meanwhile, the employment index in the service sector has returned to a narrowing zone. These signals reduce expectations that the US Federal Reserve (Fed) will strongly raise interest rates at the September meeting.
The possibility of the Fed raising interest rates next month is currently assessed by the market at around 55-59%, down from the previously recorded 67%. This is a favorable factor for gold because the precious metal does not bring a fixed yield and is often under pressure when interest rates remain high.
In addition, the weakening USD and the decrease in 10-year US government bond yields have made the cost of holding gold more attractive. US and Japanese interventions supporting the yen have also increased fluctuations in the money market, thereby boosting demand for defensive assets.
Developments in the Strait of Hormuz continue to be an important variable. Expectations that Iran and Oman will soon deploy a temporary maritime route have eased concerns about disrupted oil supply, cooled energy prices down and reduced inflationary pressure. When the risk of inflation due to oil prices weakens, the Fed has more room to maintain prudent monetary policy instead of continuing to raise interest rates.
In the short term, gold prices may continue to be supported if the US non-farm payroll report in July is lower than expected, the USD weakens and bond yields fall further. Conversely, positive labor data or price pressure in the service sector maintained at a high level may cause interest rate hike expectations to return, creating profit-taking pressure on the precious metal.
In addition, any obstacles in the process of reopening the transportation route through the Strait of Hormuz could also increase oil prices and geopolitical fluctuations. Therefore, although the upward trend still prevails, gold prices may experience strong corrections when trading near the short-term peak.
Gold price data is compared to the previous day.
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