Gold price update morning of August 10th: Bright prospects, receiving unexpected forecasts

SJC gold bar price

As of 6:00 AM, Phu Quy Jewelry Group listed SJC gold bar prices at 141-144 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.

SJC gold bar price is listed by DOJI at the threshold of 141-144 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.

SJC gold bar price is listed by Bao Tin Minh Chau at the threshold of 141.5-145.5 million VND/tael (buying - selling). The difference between buying and selling prices is at the threshold of 4 million VND/tael.

9999 gold ring price

As of 6:00 AM, Phu Quy Gold and Gems Group listed the price of gold rings at 141-144 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.

DOJI listed the price of gold rings at the threshold of 141.2-145.2 million VND/tael (buying - selling). The buying - selling difference is at 4 million VND/tael.

Bao Tin Minh Chau listed gold ring prices at the threshold of 141.5-145.5 million VND/tael (buying - selling). The difference between buying and selling prices is at the threshold of 4 million VND/tael.

World gold price

Recorded at 6:00 AM, world gold prices are listed around the threshold of 4,341.3 USD/ounce.

Gold price forecast

Stepping into the new trading week, the outlook for gold prices still leans in a positive direction after the precious metal has just experienced a week of strong increases. However, analysts believe that the market may experience fluctuations as prices have moved to a high level and investors continue to assess new signals from the US economy.

The most notable driving force for gold today comes from the US labor market. A series of recently released data shows that recruitment activity is weaker than expected, thereby reducing the possibility that the US Federal Reserve (Fed) will continue to maintain a tough monetary stance. When interest rate expectations fall, the yields of fixed income assets may be under pressure, thereby increasing the relative attractiveness of gold.

Market analysis also shows that the medium and long-term outlook for the precious metal continues to be supported by the need to diversify assets away from the USD, central banks' gold buying activity, and investment capital returning to the market. Some major financial institutions even put forward scenarios that gold prices could reach the 5,000 USD/ounce mark in the first half of 2027 if current supporting conditions are maintained.

Market sentiment this week is quite positive. A survey by a precious metals website with analysts shows that 16 out of 19 experts, equivalent to 84%, expect gold prices to continue to increase. Only 2 people predicted a price decrease and one person maintained a neutral view. In the group of individual investors, nearly 69% of survey participants also leaned towards a price rise scenario.

However, the upward momentum of gold is not entirely certain. Data showing that the US economy is recovering better than expected, inflation is maintaining at a high level, or the Fed is sending a tougher message, can all cause interest rate expectations to change rapidly and put pressure on precious metal prices.

This week, the market will therefore continue to closely monitor US economic data, the diễn biến of the USD, bond yields and capital flows into gold ETF funds. After the recent strong increase, short-term fluctuations may increase when profit-taking activities appear in high price zones.