SJC gold bar price
As of 6:00 a.m., DOJI Group listed the price of SJC gold bars at VND123.8-124.8 million/tael (buy in - sell out), down VND200,000/tael in both directions. 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 123.8-124.8 million VND/tael (buy - sell), down 200,000 VND/tael in both directions. 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 122.8-124.8 million VND/tael (buy in - sell out), down 200,000 VND/tael in both directions. The difference between buying and selling prices is at 2 million VND/tael.
9999 gold ring price
As of 6:00 a.m., DOJI Group listed the price of gold rings at 117-120.2 million VND/tael (buy in - sell out), unchanged for buying and increased by 200,000 VND/tael for selling. The difference between buying and selling is 3.2 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 117.2-120.2 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 116.5-119 seven million VND/tael (buy in - sell out), unchanged 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 11:30 p.m. on August 20 at 3,341.8 USD/ounce, up 27.7 USD.
Gold price forecast
World gold prices increased sharply partly due to the decline in US stocks in the middle of the week and partly due to new technical buying power.
Stock investors are also starting to worry as they enter the September and October period which are months that often have strong fluctuations in the US stock market.
In addition, the market is waiting for the US Federal Reserve (FED) to release a report. The minutes of the latest meeting of the Open Market Committee (FOMC) will be released and investors will analyze carefully to find signals about upcoming monetary policy.
Financial markets this week are quite quiet ahead of the Jackson Hole annual conference hosted by the Kansas City branch of the Fed, starting Thursday.
Fed Chairman Jerome Powell will speak on Friday morning, expected to update monetary policy, which could provide new suggestions on the possibility of the Fed cutting interest rates in September.
As of the most recent time, December gold delivery increased by 27.4 USD to 3,386.50 USD/ounce, while September silver delivery increased by 0.393 USD to 37.725 USD/ounce.
Technically, December gold buyers have a short-term advantage. The next target for buyers is to push the closing price above the important resistance level of 3,500 USD/ounce. On the contrary, the target for the sellers is to pull the price below the strong support level at the bottom of July at 3,319-20 USD/ounce.
The most recent resistance was at $3,400/ounce, followed by a peak this week at $3,403.6/ounce. The most recent support at last night's low was $3,353.4 an ounce, followed by $3,350 an ounce.
In outside markets, the USD index decreased slightly, crude oil prices increased slightly to about 62.75 USD/barrel, while the yield on the 10-year US Treasury note is currently at about 4.32%.
Notable US economic data this week
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.
See more news related to gold prices HERE...
