SJC gold bar price
As of 6:00 AM, Phu Quy Jewelry Group listed SJC gold bar prices at 143-146.6 million VND/tael (buying - selling), down 1.7 million VND/tael on the buying side and down 1.6 million VND/tael on the selling side. The difference between buying and selling prices is at 3.6 million VND/tael.
SJC gold bar price was listed by DOJI at the threshold of 143.6-146.6 million VND/tael (buying - selling), down 1.6 million 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 was listed by Bao Tin Minh Chau at 142.3-146.3 million VND/tael (buying - selling), down 1.2 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 4 million VND/tael.
9999 gold ring price
As of 6:00 AM, Phu Quy Gold and Gems Group listed the price of gold rings at 142-145.6 million VND/tael (buying - selling), down 1.5 million VND/tael on the buying side and down 1.4 million VND/tael on the selling side. The difference between buying and selling prices is at 3.6 million VND/tael.
DOJI listed gold ring prices at the threshold of 142.5-146.5 million VND/tael (buying - selling), down 700,000 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 the price of gold rings at 142.3-146.3 million VND/tael (buying - selling), down 1.2 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 4 million VND/tael.
World gold price
At 1:00 AM, world gold prices were listed around the threshold of 4,009.2 USD/ounce, up 22.6 USD.
Gold price forecast
World gold prices recovered in the last trading session of the week and regained the 4,000 USD/ounce mark after undergoing strong selling pressure before. This development shows that bottom-fishing buying pressure has appeared as the price retreated to the support zone around 3,970 USD/ounce.
The driving force supporting gold comes from data showing that inflationary pressure in the US shows signs of cooling down. The consumer price index in June fell 0.4%, while the producer price index ultimately fell 0.3%. A July preliminary survey by the University of Michigan also showed that US consumer inflation expectations in a year fell from 4.6% to 4.2%.
US consumer sentiment also improved significantly. The consumer confidence index in July reached 54.4 points, higher than the forecast of 51 points and June's 49.5 points. Short-term inflation expectations fell, helping gold prices approach the session's highest level, then surpass the psychological milestone of 4,000 USD/ounce.
However, the upward outlook for the precious metal still faces many obstacles. US retail sales increased by 0.2%, the number of initial jobless claims fell to 28,000, and the Philadelphia regional manufacturing index increased sharply. These data show that the US economy still maintains resilience, making the market not expect the US Federal Reserve (Fed) to soon shift to a strong easing stance.
The yield of 10-year US government bonds remained around 4.53%, while the USD strength index stabilized at nearly 100.8 points. The high yield level may continue to limit the attractiveness of gold, an asset that does not yield interest.
Tensions in the Strait of Hormuz also create a two-way impact. The risk of disruption of energy transportation boosts safe-haven demand, but rising oil prices could increase concerns about inflation, thereby making the Fed more cautious about reducing interest rates.
Technically, regaining the 4,000 USD/ounce mark helps to partially relieve short-term downward pressure. If maintained firmly above this zone, gold prices may head to 4,009 USD/ounce, and further to 4,044 USD/ounce. Conversely, if losing the 3,970 USD/ounce zone, the price is at risk of falling back to the support zones of 3,959-3,942 USD/ounce. Investors need to continue to monitor Fed officials' statements, bond yield developments and the transportation situation through the Strait of Hormuz.
Gold price data is compared to the previous day.
See more news related to gold prices HERE...
