SJC gold bar price
As of 6:00 AM, Phu Quy listed SJC gold bar prices at the threshold of 140.5-143.5 million VND/tael (buying - selling), down 600,000 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 140.5-143.5 million VND/tael (buying - selling), down 600,000 VND/tael in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.
SJC gold bar price was listed by Bao Tin Minh Chau at 142-146 million VND/tael (buying - selling), an increase of 1 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 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 140.5-143.5 million VND/tael (buying - selling), down 600,000 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 141.5-145.5 million VND/tael (buying - selling), an increase of 1.3 million VND/tael in both directions. The buying - selling difference is at 4 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 142-146 million VND/tael (buying - selling), an increase of 1 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 4 million VND/tael.
World gold price
Recorded at 0:05 AM, world gold prices were listed around the threshold of 4,381.3 USD/ounce, down 14 USD.
Gold price forecast
World gold prices are entering a period of fluctuation, investors are cautiously waiting for more US inflation data to assess the next direction of monetary policy.
In the most recent trading session, spot gold at one point reached its highest level in about two months before falling back to around 4,386 USD/ounce. Adjustment pressure mainly stemmed from profit-making activities, while the market shifted its attention to the US consumer price index (CPI) report.
Investors expect US inflation to slightly decrease, from 3.5% to about 3.4% over the same period. However, the policy outlook of the US Federal Reserve (Fed) remains unpredictable. Recent weak labor data creates a basis for the market to expect less tough monetary policy, but the rebound in oil prices is increasing the risk of prolonged inflation.
The yield of 10-year US government bonds is currently maintained around 4.7%, relatively high, thereby creating certain pressure on gold because the precious metal does not bring yields. The low fluctuation of the USD index also makes the market lack more clear momentum to form a new trend.
Other economic data is also sending mixed signals. Current home sales in the US in July decreased by 1.7%, down to a converted level of 4.06 million units/year. Despite the decrease, this result is still higher than forecast by about 4.04 million units, putting gold prices under further pressure in the short term.
In the opposite direction, geopolitical tensions continue to create significant support for precious metals. Instability related to the Strait of Hormuz and transportation activities in the Middle East region keeps demand for safe haven assets at a high level. However, strong oil prices could also push inflation up and make it difficult for the Fed to ease policy soon.
Technically, the 4,430-4,492 USD/ounce zone is being considered a noteworthy resistance area. If it sustainably surpasses this zone, gold prices may head towards the 4,500 USD/ounce mark and further to about 4,598 USD/ounce.
Conversely, the 4,360 USD/ounce zone is a near support level. If this mark is broken, gold prices are at risk of falling back to around 4,299 USD/ounce, even 4,224 USD/ounce.
In the short term, gold prices may continue to fluctuate strongly as the market balances between safe-haven demand, oil price movements, US bond yields and Fed policy expectations. US CPI data may become an important factor determining whether gold has enough momentum to return to test the 4,500 USD/ounce zone or continue to enter a correction phase.
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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