SJC gold bar price
As of 6:00 AM, SJC gold bar prices were listed by DOJI at 167.7-171.2 million VND/tael (buying - selling), down 2.3 million VND/tael on the buying side and down 1.8 million VND/tael on the selling side. The difference between buying and selling prices is at 3.5 million VND/tael.
SJC gold bar price was listed by Bao Tin Minh Chau at the threshold of 167.7-171.2 million VND/tael (buying - selling), down 2.3 million VND/tael on the buying side and down 1.8 million VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 3.5 million VND/tael.
Phu Quy Jewelry Group listed SJC gold bar prices at 167.5-171.2 million VND/tael (buying - selling), down 2.5 million VND/tael on the buying side and down 2.3 million VND/tael on the selling side. The difference between buying and selling prices is at 3.7 million VND/tael.
9999 gold ring price
As of 6:00 AM, DOJI listed the price of gold rings at 167.7-171.2 million VND/tael (buying - selling), down 2.3 million VND/tael on the buying side and down 1.8 million VND/tael on the selling side. The difference between buying and selling prices is at 3.5 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 167.5-170.7 million VND/tael (buying - selling), down 2.5 million VND/tael on the buying side and down 2.3 million VND/tael on the selling side. The difference between buying and selling prices is at 3.2 million VND/tael.
Phu Quy Gold and Gems Group listed the price of gold rings at 167.5-170.7 million VND/tael (buying - selling), down 2.5 million VND/tael on the buying side and down 2.3 million VND/tael on the selling side. The difference between buying and selling prices is at 3.2 million VND/tael.
Currently, the buying - selling price difference of gold is at a very high level, around 3 million VND/tael, posing a risk of losses for investors.
World gold price
At 0:41 AM, world gold prices were listed around the threshold of 4, 781.7 USD/ounce, down 18.7 USD compared to the previous day.
Gold price forecast
According to Kitco, the gold market is lacking continued buying power. Some positive signals from the US economy and cautious sentiment from investors are preventing the precious metal from breaking through strongly.
A newly released report by the Federal Reserve in Philadelphia shows that manufacturing activity in this region in April continued to improve significantly. The manufacturing sector business outlook index increased to 26.7 points, much higher than the 18.1 of the previous month and far exceeding analysts' forecasts. Indicators of new orders and deliveries also simultaneously increased, reflecting a more positive manufacturing picture.
The above information partly eases concerns about the risk of recession, thereby reducing demand for holding gold as a safe haven asset. However, the labor market still sends negative signals as the job index falls to a negative level. Along with that, inflationary pressure has not cooled down as input costs continue to increase, showing that the economic environment still contains many risks.
In another development, expectations that tensions in the Middle East may cool down in the near future also contribute to helping market sentiment become more stable. As volatility in the financial market decreases and stocks recover, gold no longer benefits clearly from defensive cash flow as in the previous period.
Talking to Kitco News, Mr. Michael Brown - senior research strategist at Pepperstone - said that the 4,800 USD/ounce mark is currently an important threshold for gold. According to him, this is the first barrier that the precious metal needs to overcome clearly to strengthen confidence in rising prices in the market.
This expert also said that gold is moving quite unusually, as it no longer closely follows traditional factors such as the strength of the USD or real yield. In the context that geopolitical conflict has not completely ended but is showing signs of cooling down, gold prices are likely still being supported. However, to form a new strong upward momentum, the market may need more time to absorb all the speculative factors that pushed prices to previous highs.
Technically, rising speculators on the June gold futures market are aiming for the next goal of bringing the closing price above the strong resistance level of 5,000 USD/ounce. In the opposite direction, the selling side needs to pull the price down below the important technical support zone of 4,500 USD/ounce to gain short-term dominance.
The Wyckoff technical rating for gold is currently at 6.5 points, showing that buyers still hold a certain advantage, but the market is in a consolidation phase.
Gold price data is compared to the previous day.
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