SJC gold bar price
As of 6:00 AM, SJC gold bar prices were listed by DOJI at 160.5-163.5 million VND/tael (buying - selling), unchanged in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.
SJC gold bar price is listed by Bao Tin Minh Chau at the threshold of 160.5-163.5 million VND/tael (buying - selling), unchanged in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.
Phu Quy Jewelry Group listed SJC gold bar prices at 160.5-163.5 million VND/tael (buying - selling), unchanged in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.
9999 gold ring price
As of 6:00 AM, DOJI listed the price of gold rings at 160.5-163.5 million VND/tael (buying - selling), unchanged 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 160.5-163.5 million VND/tael (buying - selling), unchanged in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.
Phu Quy Gold and Gems Group listed the price of gold rings at 160.5-163.5 million VND/tael (buying - selling), unchanged in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.
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 5:45 PM, world gold prices were listed around the threshold of 4, 553.9 USD/ounce, down 14.7 USD compared to the previous day.
Gold price forecast
Gold prices are under great pressure as a series of unfavorable factors appear at the same time, from rising US bond yields, stronger USD to concerns about inflation due to rising oil prices. In this context, shelter demand from geopolitical tensions is not enough to help the precious metal regain its upward momentum.
Wall Street's forecast for next week is quite negative. Kitco News' weekly gold survey shows that among 13 experts participating in the survey, up to 10 people, equivalent to 77%, predict gold prices will decrease next week. Only 2 experts, equivalent to 15%, believe that gold prices will increase; the remaining 1 expert, equivalent to 8%, predicts that prices will remain flat. Meanwhile, individual investors are still more optimistic, with 59% expecting gold prices to increase.
Mr. Marc Chandler - Managing Director of Bannockburn Global Forex - said that interest rate hikes and the strengthening of the greenback put pressure on gold prices at the end of the week. According to him, gold has broken the recent fluctuation range and fallen to the lowest level in 8 days. This expert noted that if gold prices break through the 4,500 USD/ounce mark, the market may head towards the 4,350 USD/ounce zone.
Sharing the same cautious view, Mr. Daniel Pavilonis - senior commodity broker at RJO Futures - said that the gold decline at the end of the week mainly came from increased US bond yields and market expectations about the possibility of interest rates remaining high. According to this expert, the market is currently "no longer as easy to trade" as a few months ago, as investor sentiment has become more sensitive to economic data, oil prices and signals from the US Federal Reserve (Fed).
A notable factor is the sharp increase in oil prices due to concerns about supply disruptions, raising inflation risks. When inflation is dominated by energy shocks, gold may no longer react as a traditional hedging channel. Conversely, the market tends to bet on the Fed's difficulty in early easing policy, thereby making yields and the USD continue to be a drag on the precious metal.
Next week, investors will monitor a series of US economic data, including home sales, unemployment claims, the Philly Fed's manufacturing survey, preliminary PMI, and the Michigan University consumer sentiment index. The minutes of the Fed's most recent meeting may also create more volatility for gold prices, especially if the market finds signs that interest rates will remain high longer.
Gold price data is compared to the previous day.
See more news related to gold prices HERE...
