SJC gold bar price
As of 6:00 AM, SJC gold bar prices were listed by DOJI at 148-150.5 million VND/tael (buying - selling), an increase of 4 million VND/tael on the buying side and an increase of 3.5 million VND/tael on the selling side. The difference between buying and selling prices is at 2.5 million VND/tael.
SJC gold bar price was listed by Bao Tin Minh Chau at 148-150.5 million VND/tael (buying - selling), an increase of 4 million VND/tael on the buying side and an increase of 3.5 million VND/tael on the selling side. The difference between buying and selling prices is at 2.5 million VND/tael.
Phu Quy Jewelry Group listed SJC gold bar prices at 148-150.5 million VND/tael (buying - selling), an increase of 4 million VND/tael on the buying side and an increase of 3.5 million VND/tael on the selling side. The difference between buying and selling prices is at 2.5 million VND/tael.
9999 gold ring price
As of 6:00 AM, DOJI listed the price of gold rings at 148-151 million VND/tael (buying - selling), an increase of 4 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 148-150.5 million VND/tael (buying - selling), an increase of 4 million VND/tael on the buying side and an increase of 3.5 million VND/tael on the selling side. The difference between buying and selling prices is at 2.5 million VND/tael.
Phu Quy Jewelry Group listed the price of gold rings at the threshold of 147.5-150.5 million VND/tael (buying - selling), an increase of 3.5 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.
The buying - selling price difference of gold is at a very high level, around 2.5 to 3 million VND/tael, posing a risk of losses for investors.
World gold price
At 0:36 am, world gold prices were listed around the threshold of 4,321.8 USD/ounce, an increase of 103.5 USD/ounce compared to the previous day.
Gold price forecast
World gold prices rose sharply as the market welcomed information that the US and Iran reached a framework agreement related to reopening the Strait of Hormuz. This development dragged crude oil prices down, thereby easing inflation concerns and weakening the USD. These are direct supporting factors for the precious metal.
According to Kitco, spot gold prices at one point traded around the threshold of 4.336.2 USD/ounce, up 2.79% in the session. At the same time, spot silver prices increased more strongly, to around 70.67 USD/ounce, equivalent to an increase of more than 4%.
The market is assessing the US-Iran framework agreement in a positive direction for inflation prospects. The possibility of the Hormuz Strait being reopened helps reduce pressure on energy prices, while Brent oil prices retreated to the 83-84 USD/barrel range, and US WTI oil traded below 80 USD/barrel. When oil price pressure cools down, inflation expectations also decrease, weakening the argument of maintaining high interest rates for a long time. This is beneficial for gold, an interest-free asset.
However, analysts believe that gold's upward momentum still needs to be further verified. Although the framework agreement helps improve market sentiment, many issues remain unresolved, including the progress of mine clearance, logistics, easing of sanctions and the sustainability of the 60-day negotiation period. Therefore, geopolitical factors have not completely disappeared from the market.
In terms of economic data, the Empire State Manufacturing Index of the New York Fed fell to 5.7 points in June, showing that manufacturing activity is still expanding but the pace has slowed down. Notably, the input price index is still high, reflecting that the inflationary pressure channel from the supply chain has not completely cooled down.
Technically, the 4,364-4,400 USD/ounce zone is a near resistance level for gold prices. If this zone is sustainably surpassed, the precious metal may move towards higher levels around 4,460 USD/ounce, and further to 4,575 USD/ounce. Conversely, if the 4,280 USD/ounce zone is not maintained, gold prices may be under pressure to adjust to 4,240 USD/ounce, or even 4,194 USD/ounce.
In the short term, the market will continue to monitor industrial production data, import and export prices, US housing data and especially the monetary policy decisions of the US Federal Reserve (Fed). If the Fed sends softer signals in the context of cooling oil prices and weakening the USD, gold prices may continue to be supported.
Gold price data is compared to the previous day.
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