SJC gold bar price
As of 6:00 a.m. on July 16, the price of SJC gold bars was listed by Saigon Jewelry Company at VND 119.1-121.1 million/tael (buy in - sell out); down VND 400,000/tael in both directions. The difference between buying and selling prices is at 2 million VND/tael.
DOJI Group listed at 119.1-121.1 million VND/tael (buy - sell); down 400,000 VND/tael in both directions. The difference between buying and selling prices is at 2 million VND/tael.
Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at VND 119.1-121.1 million/tael (buy in - sell out); down VND 400,000/tael in both directions. The difference between buying and selling prices is at 2 million VND/tael.
Phu Quy Jewelry Group listed the price of SJC gold bars at VND 118.4-121.1 million/tael (buy in - sell out); down VND 400,000/tael in both directions. The difference between buying and selling prices is at 2.7 million VND/tael.
9999 gold ring price
As of 6:00 a.m. on July 16, DOJI Group listed the price of gold rings at VND 115.6-118.4 million/tael (buy in - sell out), down VND 400,000/tael in both directions. The difference between buying and selling is 3 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 115.8-118.8 million VND/tael (buy - sell), down 400,000 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 115-118 million VND/tael (buy in - sell out), down 300,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.
World gold price
Recorded at 10:10 on July 15, spot gold was listed at 3,346.7 USD/ounce, without much change.
Gold price forecast
World gold prices have almost moved sideways after the US consumer price index (CPI) report for June was released with results that do not cause concern about inflation. Meanwhile, silver prices fell due to profit-taking pressure after reaching a nearly 14-year peak on Monday. August gold contract decreased by 0.3 USD, to 3,358.6 USD/ounce. September delivery silver price decreased by 0.202 USD, down to 38.53 USD/ounce.
The highlight of the US data this week is the June CPI, which increased by 2.7% year-on-year, in line with market expectations and compared to a 2.4% increase in the May report. The core CPI (excluding food and energy) increased by 2.9%, which was also close to the forecast. The market did not have any significant reactions after the announcement.
Asian and European stock markets mostly rose overnight. US stock indexes are expected to open higher than today in New York.
In noteworthy information overnight, China's GDP in the second quarter increased by 5.2% compared to the same period last year, in line with the forecast.
Technically, August gold buyers are still holding the advantage in the short term. The next upside target is to close above the strong resistance zone of $3,400/ounce. On the contrary, the sellers will try to pull prices below the solid technical support zone at the bottom of June at $3,250.5/ounce.
The first resistance level is this week's peak at $3,389.3/ounce, then $3,400/ounce. The first support is at the bottom of this week at 3,348.5 USD/ounce, followed by 3,325 USD/ounce.
In the peripheral market, the USD index decreased slightly. A survey by Bank of America shows that fund managers are considering the USD counterfeit position as the most crowded transaction today. seasoned traders understand that when too many people are on one side, that trend may have come to an end.
Nymex crude oil futures fell, trading around $66.75/barrel. The yield on the 10-year US Treasury note is currently at 4.42%.
Economic data to watch this week
Wednesday: US Producer Price Index (PPI).
Thursday: Retail sales, Philly Fed manufacturing survey, US weekly jobless claims.
Friday: Newly started houses, University of Michigan preliminary consumer confidence index.
Note: Gold price data is compared to a day earlier.
See more news related to gold prices HERE...
