9999 gold ring price
As of 6:00 AM, Phu Quy Gold and Gems Group listed the price of gold rings at 143-146.4 million VND/tael (buying - selling). The buying - selling difference is at 3.4 million VND/tael.
DOJI Group listed the price of gold rings at 143-147 million VND/tael (buying - selling). The buying - selling difference is at 4 million VND/tael.
The price of gold rings is listed by Bao Tin Minh Chau at 142.9-146.9 million VND/tael (buying - selling). The buying - selling difference is at 4 million VND/tael.
SJC gold bar price
As of 6:00 AM, Phu Quy listed SJC gold bar prices at 143-146 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.
At the same time, SJC gold bar prices were listed by DOJI at the threshold of 143-146 million VND/tael (buying - selling). The buying - selling difference was at 3 million VND/tael.
SJC gold bar price is listed by Bao Tin Minh Chau at 142.9-146 million VND/tael (buying - selling). The buying - selling difference is at 3.1 million VND/tael.
After 1 week, SJC gold bar prices at brands have had a sharp downward adjustment, simultaneously decreasing by 1.6 million VND/tael in both directions (buying - selling).
Jewelry gold price
DOJI listed 9999 jewelry gold at the threshold of 142.5-146.5 million VND/tael (buying - selling), an increase of 500,000 VND/tael.
Bao Tin Minh Chau listed Thang Long 9999 Dragon Gold Jewelry at the threshold of 140.9-145.9 million VND/tael (buying - selling), simultaneously increasing by 300,000 VND/tael in both buying and selling directions.
World gold price
World gold prices are listed around the threshold of 4, 347.7 USD/ounce, up an additional 32.1 USD (equivalent to 0.74%).
Gold price forecast
Forecasting gold prices next week, experts have more basis to lean towards an upward trend.
Senior market analyst at FxPro forecasts gold prices will increase next week.
Rising government bond yields in major economies continue to attract capital flows away from precious metals," the expert said.
However, in the gold market, according to him, prices have fallen to the 4,300 USD zone, changing the balance of power in a direction favorable to buyers. This is the third consecutive week of decline, with prices falling below the 50-week moving average. However, the buying trend when prices fall is contrary to the price decline scenario that has occurred in similar cases in the past 15 years.
The possibility of the US Federal Reserve (Fed) raising interest rates by 25 basis points next week continues to put pressure on gold prices. This is also understandable, because rising interest rates push bond yields up, thereby increasing the opportunity cost of holding non-performing assets.
However, on a larger scale, the US economy is facing much more serious problems than the direction of short-term interest rates.
In the past week, the US Treasury Department bought back 5.1 billion USD of US long-term government bonds. However, instead of pulling yields at the long end of the curve down, yields increased higher. 10-year term bond yields ended the week at 4.97%, the highest in 3 years. Many analysts believe that it is only a matter of time before yields reach 5%, creating another major barrier to the economy.
All attention is currently focused on the monetary policy decision of the US Federal Reserve (Fed), but investors need to pay more attention to the US's huge spending problem. Last week, US government debt total exceeded 40 trillion USD. The government currently has to spend more than 1 trillion USD per year just to pay interest on debt, and this problem is becoming increasingly serious.
A day before the US Treasury Department carried out the disappointing bond buy-back, President Donald Trump pledged that if the Republican Party wins the midterm election and continues to control the Senate, each adult in the US will receive 5,000 USD. This commitment could increase the debt by 1 trillion USD.
Investors should closely monitor the actual interest rate next week to make the right decisions when they need to hold and own assets.
Gold price data is compared to the previous day.
The information in the article only reflects market developments, not investment recommendations.
See more news related to gold prices HERE...
