9999 gold ring price
As of 6:00 AM, Phu Quy Gold and Gems Group listed the price of gold rings at 147-150 million VND/tael (buying - selling), down 300,000 VND/tael on the buying side and down 700,000 VND/tael on the selling side. The buying - selling difference is at 3 million VND/tael.
DOJI listed the price of gold rings at 148-152 million VND/tael (buying - selling), down 1.8 million VND/tael in both buying and selling directions. The buying - selling difference is at 4 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 148-152 million VND/tael (buying - selling), down 1.7 million VND/tael in both buying and selling directions. The buying - selling difference is at 4 million VND/tael.
SJC gold bar price
As of 6:00 AM, Phu Quy listed SJC gold bar prices at 147-150 million VND/tael (buying - selling), down 300,000 VND/tael in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.
SJC gold bar price is listed by DOJI at 147-150 million VND/tael (buying - selling), down 300,000 VND/tael in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.
Bao Tin Minh Chau listed SJC gold bar prices at 148-152 million VND/tael (buying - selling), down 1.7 million VND/tael in both buying and selling directions. The buying - selling difference is at 4 million VND/tael.
World gold price
Recorded at 1:20 am, world gold prices were listed around the threshold of 4,606.8 USD/ounce, up 13.4 USD.
Gold price forecast
World gold prices are in a state of stalemate as the market continues to assess the impact of newly released US economic data, in the context that expectations about the interest rate policy of the US Federal Reserve (Fed) are still unclear.
After a strong correction in the previous session, bottom-fishing buying appeared, helping gold prices recover slightly. However, the increase was not really sustainable as US bond yields remained high and the USD showed signs of stabilizing again. These are factors putting pressure on the precious metal, because the opportunity cost of holding gold increased when interest rates remained high.
The latest economic data shows that the US labor market still maintains stability. The number of weekly jobless claims fell to a lower than forecast level, showing that the economy has not shown clear signs of weakening. This makes investors more cautious about the possibility of the Fed soon easing monetary policy.
In addition, the Personal Consumption Expenditure (PCE) index - a measure of inflation that the Fed is particularly interested in - continues to show that price pressure still exists. Inflation has not completely cooled down to the 2% target, causing the market to continue to closely monitor policy signals in the coming time, especially Fed Chairman Kevin Warsh's speech at the Jackson Hole conference.
Investors are currently waiting for more messages about interest rate orientation. If the Fed sends a tougher signal in controlling inflation, gold may face additional adjustment pressure due to the USD and rising bond yields. Conversely, any signs that monetary policy may reverse will create momentum to support gold prices.
From a technical perspective, the 4,600 USD/ounce zone is being considered an important milestone for the short-term trend. If gold prices exceed the resistance zone of 4,607-4,652 USD/ounce, the market may head towards higher targets around 4,700 USD/ounce. Conversely, if losing the support zone of 4,560 USD/ounce, gold prices are at risk of falling further into the 4,510 USD/ounce area.
In addition to monetary factors, geopolitical developments in the Middle East region continue to affect market sentiment. Signs of cooling tensions may reduce safe-haven demand, but any new risks related to energy supply are still likely to boost cash flow to gold.
Gold price data is compared to the previous day.
The information in the article only reflects market developments, not investment recommendations.
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