SJC gold bar price
Closing the week's trading session, Saigon SJC Jewelry Company listed SJC gold price at the threshold of 146.2-150.2 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.
Compared to the closing session of last week (May 31), SJC gold bar price at Saigon SJC Jewelry Company decreased by 9.8 million VND/tael in both buying and selling directions.
Meanwhile, DOJI listed SJC gold price at the threshold of 146.2-150.2 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.
Compared to the closing session of last week (May 31), SJC gold bar price at DOJI decreased by 9.8 million VND/tael in both buying and selling directions.
If buying SJC gold bars in the May 31 session and selling them in today's session (June 7), buyers at Saigon SJC and DOJI Jewelry Company both lost 12.8 million VND/tael.
9999 gold ring price
At the same time, DOJI Group listed the price of gold rings at the threshold of 146.2-150.2 million VND/tael (buying - selling), down 9.8 million VND/tael in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.
Phu Quy Jewelry Group listed the price of gold rings at the threshold of 146.2-149.6 million VND/tael (buying - selling), down 9.3 million VND/tael on the buying side and down 8.9 million VND/tael on the selling side. The buying - selling difference is at 3.4 million VND/tael.
If buying gold rings in the May 31 session and selling them in today's session (June 7), buyers at DOJI will lose 12.8 million VND/tael, while the loss when buying at Phu Quy is 12.3 million VND/tael.
World gold price
Closing the weekly trading session, world gold prices were listed at 4.328 USD/ounce, down 210.3 USD compared to a week ago.
Gold price forecast
World gold prices closed the week sharply down, after more positive US jobs data than forecast reduced expectations that the US Federal Reserve (Fed) would soon cut interest rates. The USD and US Treasury bond yields rebounded, causing the precious metal to lose some of its short-term attractiveness.
Kitco News' latest weekly gold survey shows that cautious sentiment is dominating Wall Street. Among the 15 experts surveyed, only 2, or 13%, predict gold prices will increase next week. 11 experts, or 74%, believe gold prices will continue to fall. The other two predict gold prices will remain flat.
The psychology of individual investors is also less positive after the week of a sharp drop in gold prices. Among 49 people participating in Kitco's online survey, 23 people, equivalent to 47%, expect gold prices to increase next week; 18 people, equivalent to 37%, forecast prices to decrease; and the remaining 8 people believe that gold prices will remain flat.
Mr. Marc Chandler - Managing Director of Bannockburn Global Forex - said that gold prices are under pressure after the US jobs report is stronger than expected and the upward momentum of bond yields.
According to him, the fact that gold prices fell below the 200-day moving average shows that the short-term trend is becoming more negative. The May bottom around 4,367 USD/ounce may be the next technical milestone that the market is paying attention to.
From another perspective, Ms. Eugenia Mykulak - founder and CEO of B2PRIME Group - believes that the current decline is not necessarily the opening signal for a downward price market.
According to her, the market is witnessing a tug-of-war between short-term profit-taking by investors and strategic gold buying demand from central banks.
Ms. Mykulak noted that while speculative capital is withdrawing from gold, central banks are still maintaining a net buying trend. This shows that the long-term foundation of gold has not been broken, especially in the context that precious metals continue to play an important role as safe-haven assets and reserves.
Next week, the market will focus on a series of US inflation data, including the consumer price index and the producer price index. These figures may strongly impact interest rate expectations, thereby directly affecting the diễn biến of gold prices.
Gold price data is compared to a week earlier.
See more news related to gold prices HERE...
