Gold price update on the morning of July 20: Disagreements

SJC gold bar price

As of 6:00 a.m., the price of SJC gold bars was listed by Saigon Jewelry Company at VND 119.5-121 million/tael (buy in - sell out); unchanged. The difference between buying and selling prices is at 1.5 million VND/tael.

DOJI Group listed at 119.5-121 million VND/tael (buy in - sell out); unchanged. The difference between buying and selling prices is at 1.5 million VND/tael.

Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 119.5-121 million VND/tael (buy in - sell out); unchanged. The difference between buying and selling prices is at 1.5 million VND/tael.

Phu Quy Gold and Stone Group listed the price of SJC gold bars at 118.721 million VND/tael (buy - sell); increased by 300,000 VND/tael for buying and kept the same for selling. The difference between buying and selling prices is at 2.3 million VND/tael.

9999 gold ring price

As of 6:00 a.m., DOJI Group listed the price of gold rings at 115.9-118.4 million VND/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling is 2.5 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 116.1-119.1 million VND/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling is 3 million VND/tael.

Phu Quy Gold and Stone Group listed the price of gold rings at 114.8-117.8 million VND/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling is 3 million VND/tael.

World gold price

The world gold price was listed at 6:00 a.m. at 3,347.9 USD/ounce, unchanged from 1 day ago.

Gold price forecast

The weekly gold survey of an international financial information platform shows that industry experts are still divided between optimism and neutrality on the short-term outlook for gold. Meanwhile, retail investors have returned to the familiar optimistic trend.

Of the 15 analysts participating in the survey, 8 experts, accounting for 53%, predict gold prices will increase next week. One person (7%) predicted the price would decrease; the other 6 people (40%) thought that gold prices would be flat.

Meanwhile, Kitco's online survey attracted 223 individual investors to participate in the vote. After a week of skepticism, the majority of Main Street investors have returned to optimism, with 138 (62%) expecting gold prices to increase next week, 38 people (17%) predicting prices to decrease, and the remaining 47 people (21%) expecting prices to continue moving sideways.

Commerzbank analysts said that gold prices appear to be "out of stock". Although the US dollar fell to its weakest level against the Euro in four years earlier this month, gold prices remained below $3,400/ounce.

The recent strong price increase of other precious metals such as silver, platinum and paladi also shows that investors have little expectation for gold, the metal that has become popular this year and are instead looking for alternatives, the analyst noted.

Darin Newsom, senior market analyst at Barchart.com, said. "The price will increase, nothing has changed. Uncertainty still prevails. Meanwhile, the next meeting of the Federal Open Market Committee (FOMC) is getting closer to the future curve of the federal funds rate future without any change until at least the October meeting."

Precious metals analyst Jim Wyckoff predicts that gold prices will continue to fluctuate next week. The sideways and intertwined movements will continue in the context of a gloomy summer and a lack of news that could change the market.