SJC gold bar price
As of 6:00 AM, SJC gold bar prices were listed by DOJI at the threshold of 159.4-162.4 million VND/tael (buying - selling), an increase of 900,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.
SJC gold bar price was listed by Bao Tin Minh Chau at the threshold of 159.4-162.4 million VND/tael (buying - selling), an increase of 400,000 VND/tael in both buying and selling directions. 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 159.4-162.4 million VND/tael (buying - selling), an increase of 900,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.
9999 gold ring price
As of 6:00 AM, DOJI listed the price of gold rings at the threshold of 159.4-162.4 million VND/tael (buying - selling), an increase of 900,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 159.4-162.4 million VND/tael (buying - selling), an increase of 400,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.
Phu Quy Jewelry Group listed the price of gold rings at the threshold of 159.4-162.4 million VND/tael (buying - selling), an increase of 900,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.
The buying - selling price difference of gold is at a very high level, around 3 million VND/tael, posing a risk of losses for investors.
World gold price
At 0:10 am, world gold prices were listed around the threshold of 4:516.7 USD/ounce, down 27 USD.
Gold price forecast
Profit-taking pressure continues to weigh on the precious metals market as world gold prices fell to around the threshold of 4,500 USD/ounce in the trading session on May 22. The strengthening USD, high US bond yields, and new tense developments in the Middle East have made investor sentiment more cautious.
Analysts believe that the developments of oil continue to be a major factor affecting the gold market. After a period of cooling down due to signals of oil tankers reopening through the Strait of Hormuz, oil prices rebounded as Iran issued tougher signals in negotiations with the US. WTI oil prices exceeded the 100 USD/barrel mark, while Brent oil approached 107 USD/barrel.
The upward momentum of oil has caused concerns about inflation to return, thereby increasing expectations that the Fed will maintain interest rates at a higher level for longer. The yield of 10-year US government bonds continues to linger around the 4.6% zone, putting pressure on gold - an unprofitable asset.
Newly released economic data shows that the US economic picture is still relatively mixed. The number of initial jobless claims fell to 209,000, lower than market forecasts, showing that the labor market continues to maintain stability.
Meanwhile, the housing sector sent more positive signals than expected. The US Department of Commerce said that the number of houses started in April decreased by 2.8%, to 1.465 million units year-on-year, but still better than experts' forecasts. Notably, the number of new construction permits increased by 5.8%, far exceeding market expectations.
Mr. Lawrence Yun - Chief Economist of the US National Association of Realtors (NAR) - said that homebuyers are returning to a cautious mentality, despite mortgage interest rates still being high. This partly reflects that the US economy has not weakened as clearly as previously feared.
Technically, experts believe that gold buyers are aiming to bring prices back to the resistance zone of 4,531 - 4,546 USD/ounce. If successfully surpassing this zone, gold prices may head up to the level of 4,573 USD/ounce and further to 4,600 USD/ounce.
In the opposite direction, the nearest support level for gold is determined around 4,502 USD/ounce. If this zone is broken, gold prices are at risk of falling further to the 4,481 USD/ounce area, even down to 4,401 USD/ounce.
Gold price data is compared to the previous day.
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