SJC gold bar price
As of 6:00 AM, Phu Quy Jewelry Group listed SJC gold bar prices at the threshold of 144.7-148.2 million VND/tael (buying - selling), down 300,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3.5 million VND/tael.
SJC gold bar prices were listed by DOJI at the threshold of 145.2-148.2 million VND/tael (buying - selling), down 300,000 VND/tael in both directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.
SJC gold bar price is listed by Bao Tin Minh Chau at the threshold of 143.5-147.5 million VND/tael (buying - selling), unchanged in both directions. The difference between buying and selling prices is at the threshold of 4 million VND/tael.
9999 gold ring price
As of 6:00 AM, Phu Quy Jewelry Group listed the price of gold rings at the threshold of 143.5-147 million VND/tael (buying - selling), down 200,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3.5 million VND/tael.
DOJI listed gold ring prices at the threshold of 143.2-147.2 million VND/tael (buying - selling), down 300,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 4 million VND/tael.
Bao Tin Minh Chau listed gold ring prices at the threshold of 143.5-147.5 million VND/tael (buying - selling), unchanged in both directions. The difference between buying and selling prices is at the threshold of 4 million VND/tael.
World gold price
At 0:20 am, world gold prices were listed around the threshold of 3,986.6 USD/ounce, down 79.1 USD.
Gold price forecast
Gold prices are under strong downward pressure as US bond yields rebound, the USD becomes more stable, and risks in the Strait of Hormuz continue to affect market sentiment. In the most recent trading session, the precious metal broke through the 4,000 USD/ounce mark, at one point falling back to the 3,973 USD/ounce zone.
US inflation data released this week is generally positive for gold. The June consumer price index fell 0.4%, while the production price index fell 0.3%. However, the supportive impact from these figures quickly weakened as new reports showed that the US economy still maintains its resilience.
Retail sales in June increased by 0.2%, in line with forecasts. Notably, the number of initial jobless claims decreased by 8,000, to 208,000, the lowest level in 10 weeks. The labor market has not shown clear signs of weakening, limiting expectations that the Fed will soon ease monetary policy.
Investors are currently still leaning towards the possibility that the US Federal Reserve (Fed) will keep interest rates unchanged at the meeting at the end of July. However, the yield of 10-year US government bonds has returned to the 4.57% range, while the yield of 2-year bonds is around 4.16%. The USD index also edged up, making gold more expensive for buyers holding other currencies.
Tensions in the Strait of Hormuz continue to create a two-way impact. The risk of oil shipping disruption supports the need to seek defensive assets. However, the sharp increase in oil prices has raised concerns about energy inflation, thereby pushing bond yields up and curbing gold's recovery momentum.
Technically, the fact that gold prices lost the 4,000 USD/ounce mark shows that sellers are dominating in the short term. The nearest support zone is around 3,973-3,959 USD/ounce. If this zone is broken, the price may continue to fall back to 3,942 USD/ounce, and further to 3,886 USD/ounce.
In the opposite direction, gold needs to rise back to the 4,044 USD/ounce zone to improve the trend. If bond yields cool down, the precious metal may head towards the resistance zone of 4,094-4,140 USD/ounce. Investors in the near future need to monitor oil price movements, signals from the Fed and the risk of disruption of transportation activities in the Strait of Hormuz.
Gold price data is compared to the previous day.
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