SJC gold bar price
As of 6:00 AM on July 21, Phu Quy Gold and Gems Group listed SJC gold bar prices at 142.5-146 million VND/tael (buying - selling), down 1.5 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3.5 million VND/tael.
SJC gold bar price was listed by DOJI at 143-146 million VND/tael (buying - selling), down 1.5 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.
SJC gold bar price was listed by Bao Tin Minh Chau at the threshold of 142.4-146.4 million VND/tael (buying - selling), down 200,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 4 million VND/tael.
9999 gold ring price
As of 6:00 AM on July 21, Phu Quy Gold and Gems Group listed the price of gold rings at 141.5-145 million VND/tael (buying - selling), down 1.5 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3.5 million VND/tael.
DOJI listed gold ring prices at 142-146 million VND/tael (buying - selling), down 1.3 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 4 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at the threshold of 142.4-146.4 million VND/tael (buying - selling), down 200,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 4 million VND/tael.
World gold price
At 11:55 PM on July 20, world gold prices were listed around the threshold of 4,007.3 USD/ounce, down 10 USD.
Gold price forecast
World gold prices are struggling around the threshold of 4,000 USD/ounce as safe-haven demand from geopolitical tensions is overwhelmed by pressure from the USD, US bond yields and the risk of inflation returning.
In the first session of the week, spot gold prices at one point fell to 3,982.2 USD/ounce, then recovered to over 4,000 USD/ounce. However, the precious metal still could not maintain its upward momentum when continuously failing before the 4.023-4.066 USD/ounce zone. This development shows that defensive buying power still appeared in the low price zone, but not strong enough to create a clear upward trend.
Tensions between the US and Iran continue to be a factor supporting gold prices. Transportation through the Strait of Hormuz is disrupted amid increasing military attacks, raising concerns about global energy supply. Brent oil prices have returned to the region of 89-90 USD/barrel, while WTI oil fluctuates around 82-83 USD/barrel.
However, rising oil prices also entail the risk of inflation, causing the market to worry that the US Federal Reserve (Fed) may maintain a cautious monetary policy longer than expected. The yield of 10-year US government bonds stood around 4.57%, while the USD index remained near 100.87 points. These are factors that reduce the attractiveness of gold - an asset that does not yield interest.
Recent US economic data has also not created enough basis for the market to expect the Fed to soon move to easing. Positive retail sales, reduced unemployment claims, recovery of manufacturing in Philadelphia and improved consumer sentiment show that the US economy still maintains its resilience.
The market leans towards the possibility that the Fed will keep interest rates unchanged at the meeting on July 29, but does not rule out the possibility of raising interest rates at the end of the year if price pressure continues to rise.
Technically, the 4,023 USD/ounce zone is the nearest resistance level. If it is surpassed and held above this level, gold prices may head towards 4,066 USD/ounce. Conversely, falling below 3,982 USD/ounce may expand selling pressure to the 3,947 USD/ounce zone, and further to 3,886 USD/ounce.
Gold price data is compared to the previous day.
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