SJC gold bar price
As of 6:00 AM on July 2nd, Phu Quy Gold and Gems Group listed SJC gold bar prices at 143-146.4 million VND/tael (buying - selling), down 500,000 VND/tael on the buying side and down 600,000 VND/tael on the selling side. The difference between buying and selling prices is at 3.4 million VND/tael.
SJC gold bar price was listed by DOJI at the threshold of 143.4-146.4 million VND/tael (buying - selling), down 600,000 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 142.5-146 million VND/tael (buying - selling), down 500,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3.5 million VND/tael.
9999 gold ring price
As of 6:00 AM on July 2nd, Phu Quy Gold and Gems Group listed the price of gold rings at 143-146 million VND/tael (buying - selling), down 500,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.
DOJI listed the price of gold rings at the threshold of 143.4-146.4 million VND/tael (buying - selling), down 600,000 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 142.5-146 million VND/tael (buying - selling), down 500,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3.5 million VND/tael.
World gold price
At 9:25 PM on July 1st, world gold prices were listed around 4,103.1 USD/ounce, up 77.3 USD.
Gold price forecast
World gold prices recovered in the context of investors increasing short-term buying and selling activities as the precious metal retreated to the important support zone. However, the current upward momentum is still being restrained by the strengthening USD and US Treasury bond yields anchored in high levels.
The focus of the gold market in the short term is the US June jobs report. ADP private sector jobs data shows that the US economy created 98,000 jobs in June, lower than the increase of 122,000 in the previous month. This figure partly shows that the US labor market is showing signs of slowing down.
Ms. Nela Richardson - chief economist of ADP - said that the current recruitment rate reflects both supply and demand factors. According to her, workers spend more time looking for jobs, while some sectors are still facing labor shortages. This makes the overall job creation rate tend to slow down.
The above developments may support gold prices, because a weaker labor market often increases expectations that the US Federal Reserve (Fed) will be softer in monetary policy management. As bond yields fall, the opportunity cost of holding gold - a non-performing asset - also decreases.
Mr. Petros Pantzari - Head of Trading at Monaxa - said that negative employment data could put pressure on the USD and support gold in the short term. However, he noted that if investors see this data as a growth risk signal, the USD can still be supported by its safe-haven role.
Technically, gold prices need to overcome the resistance zone of 4,044-4,100 USD/ounce to confirm a clearer recovery trend. If successfully breaking through, the precious metal may head towards higher levels around 4,200 USD/ounce. Conversely, if losing the support zone near 3,959 USD/ounce, gold prices are at risk of falling back to the 3,900 USD/ounce zone.
In addition to job data, investors are also closely monitoring developments in the Strait of Hormuz. Although transportation activities have improved, geopolitical risks have not completely disappeared. Any new shock to oil flows could affect inflation expectations, thereby directly affecting Fed policy and gold price trends.
Gold price data is compared to the previous day.
See more news related to gold prices HERE...
