Gold price update at the closing session 9. 4: SJC gold bars, gold rings simultaneously decrease

SJC gold bar price

As of 5:30 PM, SJC gold bar prices were listed by DOJI at the threshold of 168.5-171.5 million VND/tael (buying - selling). 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 168.5-171.5 million VND/tael (buying - selling), down 2.5 million VND/tael on the buying side and down 3.5 million VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

Phu Quy Jewelry Group listed SJC gold bar prices at the threshold of 166.3-171.5 million VND/tael (buying - selling), down 2.7 million VND/tael on the buying side and down 3.5 million VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 3.2 million VND/tael.

9999 gold ring price

As of 5:30 PM, DOJI listed the price of gold rings at the threshold of 168.5-171.5 million VND/tael (buying - selling). The difference between buying and selling prices is at the threshold of 3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at the threshold of 168.5-171.5 million VND/tael (buying - selling), down 2.5 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.

Phu Quy Gold and Gems Group listed the price of gold rings at 168-171 million VND/tael (buying - selling), down 3 million VND/tael in both buying and selling directions. 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 to 3.2 million VND/tael, posing a risk of losses for investors.

World gold price

At 5:30 PM, world gold prices were listed around the threshold of 4,736 USD/ounce, down 43.9 USD compared to the previous day.

Gold price forecast

Under pressure from many opposing factors, world gold prices are trending sideways around the 4,700 USD/ounce range after the previous increase. This development reflects the cautious sentiment of investors as the market is both monitoring the possibility of cooling down US-Iran tensions and assessing that interest rate risks may remain at a higher level longer than expected.

In recent sessions, gold has no longer broken through as strongly as during the period of escalating geopolitical tensions. Instead, the precious metal mainly fluctuates in a narrow range as expectations of a channel of dialogue between the US and Iran help somewhat ease defensive sentiment in the market. However, risks have not completely disappeared, because scattered military developments in the Middle East region could reverse the situation at any time.

Another notable factor is that the rebound in energy prices is raising concerns about inflation. When price pressure has not cooled down, the possibility of central banks delaying interest rate cuts, even maintaining tight monetary policy for longer, will be a drag on gold. Because gold is an asset that does not yield yields, it is often less attractive when the general level of interest rates is high.

Referring to this trend, Ms. Indrani De - Director of Global Investment Research at FTSE Russell - said that gold is still benefiting from geopolitical instability, but in the short term is under great pressure from increased holding costs. According to her, when inflation returns and the market thinks about the possibility of high interest rates, the safe-haven attraction of gold will be somewhat eliminated.

However, the medium-term outlook for gold still receives support from many experts. Mr. Chris Mancini - Portfolio Co-manager at Gabelli gold fund - said that the conflict in Iran and the strong increase in defense spending in the US and Europe are creating a positive foundation for gold prices.

According to him, in the context of high public debt, prolonged budget deficit and an increasingly clear downward trend depending on the USD, gold continues to be a noteworthy asset channel.

In the short term, gold prices may still fluctuate around the current zone. However, if inflationary pressure persists, geopolitical instability has not been completely resolved and defense demand returns, the precious metal still has a basis to maintain a high price level.