SJC gold bar price
As of 6:00 AM, Phu Quy listed SJC gold bar prices at the threshold of 141.1-144.1 million VND/tael (buying - selling), an increase of 100,000 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 141.1-144.1 million VND/tael (buying - selling), an increase of 100,000 VND/tael in both buying and selling directions. The difference between buying and selling is at 3 million VND/tael.
SJC gold bar prices were listed by Bao Tin Minh Chau at the threshold of 141-145 million VND/tael (buying - selling), down 500,000 VND/tael in both buying and selling directions. 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 141.1-144.1 million VND/tael (buying - selling), an increase of 100,000 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 the threshold of 140.2-144.2 million VND/tael (buying - selling), down 1 million VND/tael in both directions. The buying - selling difference is at 4 million VND/tael.
Bao Tin Minh Chau listed gold ring prices at the threshold of 141-145 million VND/tael (buying - selling), down 500,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 4 million VND/tael.
World gold price
Recorded at 6:18 AM, world gold prices were listed around the threshold of 4,395.3 USD/ounce, up 54 USD.
Gold price forecast
Gold prices rose sharply in the context of the international financial market continuously adjusting expectations for the monetary policy of the US Federal Reserve (Fed). The developments of bond yields, oil prices and US economic data are forecast to continue to determine the direction of the precious metal in the coming sessions.
The market is currently affected by two opposite pulling forces. On the one hand, weakening US job data increases expectations that the Fed may be more cautious in tightening monetary policy. The number of jobs in July decreased by 23,000, while data from previous months was also adjusted down. After this report, the probability of the market forecasting the Fed to raise interest rates in September once decreased from 54.7% to 44.4%.
However, the above expectations quickly changed as oil prices recovered and inflationary pressure returned. The probability of the Fed raising interest rates in September has recovered to 51.7%. The yield of 30-year US Treasury bonds also increased by 5 basis points, to 5.244%. Meanwhile, the yield of 10-year bonds traded above the 4.7% range.
Oil prices continue to be a noteworthy variable. Instability related to the Strait of Hormuz makes the market cautious about the possibility of oil flow returning to normal soon. WTI oil prices are currently fluctuating around 79 USD/barrel, while Brent oil is around 85 USD/barrel. If energy prices continue to rise, inflationary pressure may cause the Fed's interest rate expectations to remain high, thereby creating certain pressure on gold.
In the short term, investors are turning their attention to a series of important US economic data, including the consumer price index (CPI), producer price index (PPI) and retail sales. These figures could significantly change expectations about the Fed's next move and create strong fluctuations in gold prices.
Technically, the 4,360-4,380 USD/ounce zone is a noteworthy resistance area. If it surpasses and maintains above this zone, gold prices may head towards 4,480 USD/ounce, and further to the psychological level of 4,500 USD/ounce.
In the opposite direction, 4,299 USD/ounce is the near support zone. If losing this threshold, gold prices are at risk of retreating to 4,223 USD/ounce; stronger selling pressure may bring the precious metal back to the 4,147 USD/ounce area.
The short-term outlook for gold is still supported by geopolitical instability and risk hedging needs. However, the developments in bond yields, USD and Fed policy expectations may cause gold prices to continue to experience strong fluctuations.
Gold price data is compared to the previous day.
The information in the article only reflects market developments, not investment recommendations.
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