SJC gold bar price
As of 6:00 AM on June 11, SJC gold bar prices were listed by DOJI at the threshold of 133.3-138.3 million VND/tael (buying - selling), a sharp decrease of 5.5 million VND/tael in both directions. The difference between buying and selling prices is at the threshold of 5 million VND/tael.
SJC gold bar prices were listed by Bao Tin Minh Chau at the threshold of 135-140 million VND/tael (buying - selling), down 4 million VND/tael in both directions. The difference between buying and selling prices is at the threshold of 5 million VND/tael.
Phu Quy Jewelry Group listed SJC gold bar prices at the threshold of 133.8-138.8 million VND/tael (buying - selling), down 5 million VND/tael in both directions. The difference between buying and selling prices is at the threshold of 5 million VND/tael.
9999 gold ring price
As of 6:00 AM on June 11, DOJI listed the price of gold rings at the threshold of 133.3-138.3 - 138.8 - 143.8 million VND/tael (buying - selling), down 5.5 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 5 million VND/tael.
Bao Tin Minh Chau listed gold ring prices at 135-140 million VND/tael (buying - selling), down 4 million VND/tael in both directions. The difference between buying and selling prices is at 5 million VND/tael.
Phu Quy Gold and Gems Group listed the price of gold rings at the threshold of 133.8-138.8 million VND/tael (buying - selling), down 5 million VND/tael in both directions. The difference between buying and selling prices is at the threshold of 5 million VND/tael.
The buying - selling price difference of gold is at a very high level, around 5 million VND/tael, posing a risk of losses for investors.
World gold price
At 11:36 PM on June 10, world gold prices were listed around the threshold of 4,125.9 USD/ounce, down 148 USD/ounce compared to the previous day.
Gold price forecast
World gold prices are under strong downward pressure as US inflation data continues to linger at a high level, increasing concerns that the US Federal Reserve (Fed) will maintain a high interest rate level for a longer time.
According to newly released data, the US consumer price index (CPI) in May increased by 0.5% compared to the previous month, after an increase of 0.6% in April. Year-on-year, CPI increased by 4.2%, much higher than the 2% target pursued by the Fed.
Meanwhile, core CPI increased by 0.2% compared to the previous month and increased by 2.9% compared to the same period last year. Notably, the energy group continued to put great pressure when it increased by 3.9% in May and increased by 23.5% in 12 months.
The above developments make it difficult for gold to play its role as a safe haven asset, although geopolitical tensions in the Middle East have not cooled down. Usually, political and military instability can support gold prices.
However, in the current context, rising oil prices due to concerns about supply disruptions are raising the risk of prolonged inflation. This makes US Treasury bond yields remain high, the USD is stronger and puts direct pressure on precious metals.
Some experts believe that gold is falling into a disadvantageous state as supporting factors from safe-haven demand are overwhelmed by interest rate pressure. US-Iran tensions may increase defensive sentiment, but rising energy prices reinforce the possibility that the Fed will not soon ease monetary policy. This is a factor that makes investors more cautious with gold - an asset that does not yield interest rates.
Technically, the 4,103 USD/ounce zone is being considered a near support level for gold prices. If this mark is broken, selling pressure may expand to the 4,000 USD/ounce zone, even lower than 3,883 USD/ounce.
Conversely, to improve the trend, gold prices need to return to the resistance zone of 4,250-4,358 USD/ounce. If the recovery momentum is maintained above this zone, the precious metal may head towards higher levels such as 4,450 USD/ounce and 4,595 USD/ounce.
In the short term, the developments of US bond yields, the USD Index and oil prices will continue to be factors dominating gold prices. If these factors remain high, gold prices may continue to be under adjustment pressure. Conversely, cooling inflation signals or softer views from the Fed may help precious metals recover.
Gold price data is compared to the previous day.
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