SJC gold bar price
As of 6:00 AM, Phu Quy listed SJC gold bar prices at the threshold of 145-148.7 million VND/tael (buying - selling). The buying - selling difference is at 3.7 million VND/tael.
At the same time, SJC gold bar prices were listed by DOJI at the threshold of 145.7-148.7 million VND/tael (buying - selling). The buying - selling difference was at 3 million VND/tael.
SJC gold bar price is listed by Bao Tin Minh Chau at the threshold of 145.2-149.2 million VND/tael (buying - selling). The buying - selling difference is at 4 million VND/tael.
9999 gold ring price
As of 6:00 AM, Ancarat listed the price of 9999 Tich Tai Gold Ring at 145.6-148.6 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.
Phu Quy Gold and Gems Group listed the price of gold rings at the threshold of 145.4-124.4 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.
DOJI Group listed the price of gold rings at the threshold of 145.2-149.2 million VND/tael (buying - selling). The buying - selling difference is at 4 million VND/tael.
The price of gold rings is listed by Bao Tin Minh Chau at the threshold of 145.2-149.2 million VND/tael (buying - selling). The buying - selling difference is at 4 million VND/tael.
Jewelry gold price
As of 6:00 AM, Ancarat listed the price of 24K 9999 Gold Jewelry at 140.6-148.6 million VND/tael (buying - selling).
DOJI listed 9999 jewelry gold at the threshold of 144.5-148.5 million VND/tael (buying - selling).
Bao Tin Minh Chau listed Thang Long 9999 Dragon Gold Jewelry at the threshold of 143.2-148.2 million VND/tael (buying - selling).
World gold price
Recorded at 6:12 AM, world gold prices were listed around the threshold of 4,330.1 USD/ounce, down sharply by 115.3 USD.
Gold price forecast
Gold prices are under strong adjustment pressure as US bond yields rise, the USD recovers, and expectations that the US Federal Reserve (Fed) will continue to maintain a tough monetary stance. The above developments have increased the opportunity cost of holding unprofitable precious metals, thereby promoting selling activities in the market.
Notably, the sharp increase in oil prices is creating more pressure on inflation prospects. Brent oil has approached 95 USD/barrel, while WTI oil has surpassed 90 USD/barrel. Geopolitical tensions in the Middle East and disruptions related to the oil transportation route through the Strait of Hormuz continue to be unpredictable factors.
Usually, geopolitical instability can stimulate safe-haven demand for gold. However, in the current context, rising oil prices are increasing concerns about inflation, pushing US bond yields up and strengthening the Fed's ability to continue tightening policy. Therefore, the supportive impact from safe-haven demand is being overwhelmed by pressure from interest rates.
US economic data is also not weak enough to significantly change market expectations. The number of job positions to be recruited in July reached about 7.3 million, while the manufacturing index in August decreased but is still in the expansion zone. The market currently still assesses the possibility of the Fed raising interest rates in September at a relatively high level.
In the coming sessions, the focus will shift to the private sector employment report, the number of unemployment claims, service sector data and especially the August non-farm payroll report. If the labor market continues to show good resilience, bond yields may remain high and put more pressure on gold. Conversely, a significantly weaker than expected payroll may create conditions for the precious metal to recover.
Technically, the 4,329-4,311 USD/ounce zone is an important support area. If losing the 4,311 USD/ounce mark, the price is at risk of falling deeper to the 4,216-4,203 USD/ounce zone. In the opposite direction, gold needs to regain 4,450 USD/ounce to improve the short-term trend; the next resistance zones are around 4,532 USD/ounce.
In general, fluctuations in the USD, US bond yields and jobs data will continue to dominate gold's direction in the short term. The market may also experience strong fluctuations before forming a clearer trend.
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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