SJC gold bar price
As of 6:30 a.m., DOJI Group listed the price of SJC gold bars at 124-125 million VND/tael (buy - sell), an increase of 500,000 VND/tael in both directions compared to a day before. 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 124-125 million VND/tael (buy - sell), an increase of 500,000 VND/tael in both directions compared to a day ago. 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 123-125 million VND/tael (buy - sell), an increase of 300,000 VND/tael for buying and an increase of 500,000 VND/tael for selling compared to a day ago. The difference between buying and selling prices is at 2 million VND/tael.
9999 gold ring price
As of 6:30 a.m., DOJI Group listed the price of gold rings at 117-120 million VND/tael (buy - sell), an increase of 500,000 VND/tael compared to a day ago. The difference between buying and selling is 3 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 117.2-120.2 million VND/tael (buy - sell), an increase of 400,000 VND/tael in both directions compared to a day ago. The difference between buying and selling is 3 million VND/tael.
Phu Quy Gold and Stone Group listed the price of gold rings at 116.8-119 1.8 million VND/tael (buy - sell), an increase of 300,000 VND/tael in both directions compared to a day ago. 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 6:45 at 3,332 USD/ounce.
Gold price forecast
World gold prices fell as profit-taking activities appeared before the annual meeting of a major central bank in the western United States at the weekend.
The annual economic policy conference hosted by the Kansas Federal Reserve will begin on Thursday evening in Jackson Hole, Wyoming. Federal Reserve Chairman Jerome Powell is expected to announce a new Fed policy framework.
Mr. Powell's speech could give the market a new signal about how much support for a US interest rate cut in September. Currently, FED officials are divided about when to resume the interest rate cutting cycle. In addition, the minutes of the July FOMC meeting will also be released on Wednesday afternoon.
The most recent December gold contract fell by 3.6 USD, to 3,379 USD/ounce. Meanwhile, September silver prices rose $0.105 to $18.08/ounce.
Technically, December gold futures are still in a solid advantage in the short term. The next upside target for buyers is to close above a solid resistance level of $3,500/ounce. In contrast, the target for sellers is to pull prices below the strong support level at the bottom of July at 3,319.2 USD/ounce.
The first resistance level seen at the peak of the session was 3,403.6 USD, followed by 3,423.8 USD/ounce. The first support level was at the lowest level in the session at 3,368 USD/ounce, followed by 3,350 USD/ounce.
In outside markets, the USD index is rising, crude oil prices increased slightly to about 63 USD/barrel. The yield on the 10-year US Treasury note is currently around 4.28%.
Notable US economic data next week
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.
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