SJC gold bar price
As of 6:00 AM on May 20, SJC gold bar prices were listed by DOJI at the threshold of 161-163.5 million VND/tael (buying - selling), down 300,000 VND/tael on the buying side and up 300,000 VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 2.5 million VND/tael.
SJC gold bar price was listed by Bao Tin Minh Chau at the threshold of 160.5-163.5 million VND/tael (buying - selling), down 800,000 VND/tael on the buying side and down 300,000 VND/tael on the selling side. 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 on May 20, DOJI listed the price of gold rings at 160.5-163.5 million VND/tael (buying - selling), down 800,000 VND/tael on the buying side and down 300,000 VND/tael on the selling side. 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), down 300,000 VND/tael 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 2.5 to 3 million VND/tael, posing a risk of losses for investors.
World gold price
At 10:23 PM on May 19, the world gold price was listed around the threshold of 4,497.3 USD/ounce, down sharply by 53.9 USD.
Gold price forecast
The world gold market opened the new trading week with a sideways trend, as gold prices continuously faced downward pressure below the 4,500 USD/ounce threshold, while silver also fell sharply.
Increased selling pressure stems from the recovery of the USD and the maintenance of high US bond yields, putting pressure on non-performing assets such as gold. Spot gold prices currently fluctuate around 4.524 USD/ounce, down nearly 1%, while spot silver is at 75.50 USD/ounce, losing more than 2.5%.
Another impact factor is that US housing market data is more positive than forecast. The April Pending Home Sales Index increased by 1.4%, 1% higher than forecast, showing that homebuyers are starting to return to the market.
Mr. Lawrence Yun - Chief Economist of the US Association of Realtors (NAR), commented: "buyers are returning to cautious optimism, demand will continue to increase sharply as home mortgage interest rates fall to previous levels." This data may strengthen confidence that the US economy can avoid recession, while putting downward pressure on gold.
Meanwhile, geopolitical risks in the Middle East still support high energy prices, with WTI oil above $100/barrel, Brent above $110/barrel, causing inflation to increase and maintain high interest rate expectations, creating a drag on non-performing assets.
Technical analysts believe that gold prices need to overcome the resistance zone of 4, 540 – 4, 572 USD/ounce to be able to reach the target of 4, 600 USD and 4, 629 USD, conversely, breaking the support of 4,514 USD will open the way for a deep decrease to 4, 481 USD, even 4, 400 USD/ounce.
In general, gold this week continues to be under downward pressure from the USD and bond yields, but is still supported by geopolitical risks and inflation, causing the gold market to maintain a state of stalemate. Investors should consider large fluctuation bands and the risk of buying-selling differences when participating.
Gold price data is compared to the previous day.
See more news related to gold prices HERE...
