SJC gold bar price
As of 6:00 a.m., the price of SJC gold bars was listed by DOJI Group at 123.5-124.5 million VND/tael (buy in - sell out), unchanged. The difference between buying and selling prices is at 1 million VND/tael.
Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 123.5-124.5 million VND/tael (buy in - sell out), unchanged. The difference between buying and selling prices is at 1 million VND/tael.
Phu Quy Jewelry Group listed the price of SJC gold bars at 122.7-124.5 million VND/tael (buy in - sell out), unchanged. The difference between buying and selling prices is at 1.8 million VND/tael.
9999 gold ring price
As of 6:00 a.m., DOJI Group listed the price of gold rings at 116.5-111.5 million VND/tael (buy in - sell out), unchanged. The difference between buying and selling is 3 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 116.8 - 119.8 million VND/tael (buy - sell), unchanged. The difference between buying and selling is 3 million VND/tael.
Phu Quy Gold and Stone Group listed the price of gold rings at 116.5-111.5 million VND/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling is 3 million VND/tael.
Currently, the difference between buying and selling gold rings is at a very high level, around 3 million VND/tael, posing a potential risk of loss for investors.
World gold price
The world gold price was listed at 6:00 a.m. at 3,334.1 USD/ounce.
Gold price forecast
Expert Tran Duy Phuong - Director of Golden Fund Gold and Gemstone Company - advised investors about the large price difference, the Government and the State Bank may issue policies to increase supply, narrow the gap between domestic and world gold prices. The current domestic and world price difference of about 16-17 million VND may decrease to 10 million VND in the coming time. However, it is very difficult to make the difference to just a few million.
Buying SJC gold at the present time is risky. When domestic gold prices are adjusted, buyers may lose 5-6 million VND. In addition, if the world gold price continues to decrease, the risk of losses will be even greater.
Therefore, investors should consider carefully before deciding to buy gold, especially SJC gold. Other types of gold that are more suitable for investment can be considered.
For the world market, Mr. Ryan McIntyre - managing partner at Sprott Inc - said that gold prices could witness strong fluctuations when the market fully assesses the impact of US public debt.
He said that strong buying of gold from central banks since the Russia-Ukraine conflict broke out is still a solid support factor for the market. This buying power not only helps maintain gold prices at a high level but also strengthens investors' confidence.
"Although gold prices were steady on Friday, further volatility could come depending on the outcome of the US-Russia summit in Alaska," said Lukman Otunuga, senior analyst at FXTM.
US President Donald Trump visited Alaska on Friday to attend a summit he called "highly valuable" with his Russian counterpart Vladimir Putin, to discuss many international and bilateral issues of mutual concern.
Meanwhile, analysts at ANZ Bank believe that macroeconomic and geopolitical risks may increase in the second half of the year, strengthening the attractiveness of gold as a safe haven.
ANZ commented: "The outlook for gold price increases remains intact, supported by the prospect of increasing tariffs, the global economy slowing down, the loose monetary policy of the US and the USD continuing to weaken".
Notable US economic data next week
Last week, many data had a mixed impact, causing gold prices to continuously reverse. Next week, the focus will be on the Fed.
Tuesday: Announcement of housing data for construction and construction permits in July, Governor bowman said.
Wednesday: Minutes of the July FOMC meeting, Waller and Bostic speech, opening of the Jackson Hole Conference.
Thursday: Philadelphia Fed manufacturing index, weekly jobless claims, S&P Global comprehensive PMI in August, existing home sales in July.
Friday: FED Chairman Jerome Powell speaks at Jackson Hole - an event closely watched by global investors.
Note: Gold price data is compared to a day earlier.
See more news related to gold prices HERE...
