SJC gold bar price
As of 6:00 a.m., the price of SJC gold bars was listed by Saigon Jewelry Company at VND122.7-123.9 million/tael (buy in - sell out), unchanged. The difference between buying and selling prices is at 1.2 million VND/tael.
DOJI Group listed at 122.7-123.9 million VND/tael (buy - sell), unchanged. The difference between buying and selling prices is at 1.2 million VND/tael.
Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 122.7-123.9 million VND/tael (buy in - sell out), unchanged. The difference between buying and selling prices is at 1.2 million VND/tael.
Phu Quy Jewelry Group listed the price of SJC gold bars at 121.9-123.9 million VND/tael (buy in - sell out), unchanged. The difference between buying and selling prices is at 2 million VND/tael.
9999 gold ring price
As of 6:00 a.m., DOJI Group listed the price of gold rings at 116.3-119 1.8 million VND/tael (buy - sell), down 700,000 VND/tael for buying and up 300,000 VND/tael. The difference between buying and selling is 3.5 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 117-120 million VND/tael (buy - sell), down 300,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.
Phu Quy Gold and Stone Group listed the price of gold rings at 116.5-111.5 million VND/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling is 3 million VND/tael.
Currently, the difference between buying and selling gold rings is at a very high level, around 3 to 3.5 million VND/tael, posing a potential risk of loss for investors.
World gold price
The world gold price was listed at 0:30 at 3,346.8 USD/ounce, up 3.7 USD.
Gold price forecast
Gold prices fell but remained significantly above overnight lows, after the US inflation report was assessed as not causing problems but not yet dovish enough.
Today, the market recorded light profit-taking activities from short-term futures traders. December gold contract decreased by 5.9 USD to 3,399.20 USD/ounce.
The US consumer price index (CPI) report for July today showed a 2.7% increase compared to the same period last year, lower than the forecast of 2.8%. The core CPI (excluding food and energy) rose 3.1% year-on-year, up from the 3.0% forecast and 2.9% in the June report.
The market is now betting on the possibility that the Fed will cut interest rates by 0.25 percentage points at the FOMC meeting on September 17, even some say that today's inflation data without strong fluctuations could pave the way for a 0.5 point cut.
However, this CPI data is only close to expectations and is not completely leaning towards the "harmonization" in US monetary policy. However, the stock and financial markets still reacted positively to this data. The strong increase in US stocks has put downward pressure on precious metals due to competition for safe-haven assets.
Gold prices have continued to fall after US President Donald Trump announced that calton gold imports will not be taxed on Monday. This decision caused strong fluctuations in the gold market in the previous two trading sessions. The US imposition of tariffs on gold bars will have a big impact on global gold flows.
In outside markets, the USD index fell sharply, crude oil prices fell to around 63.25 USD/barrel, and the yield on the 10-year US Treasury note is currently around 4.4%.
Economic data to watch this week
Wednesday: Speeches by Barkin, Bostic and Goolsbee (FED).
Thursday: US PPI July, US jobless claims.
Friday: US retail sales in July, New York Empire State Production Index, Michigan Consumer Confidence Index (preliminary estimate).
Note: Gold price data is compared to a day earlier.
See more news related to gold prices HERE...
