SJC gold bar price
As of 6:00 a.m., the price of SJC gold bars was listed by Saigon Jewelry Company at 117.2-119.2 million VND/tael (buy in - sell out). The difference between buying and selling prices is at 2 million VND/tael.
DOJI Group listed at 117.2-119.2 million VND/tael (buy in - sell out). The difference between buying and selling prices is at 2 million VND/tael.
Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 117.2-119.2 million VND/tael (buy in - sell out). The difference between buying and selling prices is at 2 million VND/tael.
Phu Quy Gold and Stone Group listed the price of SJC gold bars at VND 116.5-119.2 million/tael (buy in - sell out). The difference between buying and selling prices is at 2.7 million VND/tael.
9999 gold ring price
As of 6:00 a.m., DOJI Group listed the price of gold rings at 114-116 million VND/tael (buy in - sell out). The difference between buying and selling is at 2 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 114.1-117.1 million VND/tael (buy in - sell out). The difference between buying and selling is 3 million VND/tael.
Phu Quy Gold and Stone Group listed the price of gold rings at 113.1-116.1 million VND/tael (buy in - sell out). The difference between buying and selling is 3 million VND/tael.
World gold price
Recorded at 6:00 a.m., spot gold was listed at $3,272.7/ounce.
Gold price forecast
Mr. Alex Kuptsikevich - Senior Analyst at FxPro believes that gold prices will continue to increase: "I predict that gold prices will decrease next week. Recent price action has shown a clear weakness, gold has broken important technical support, the 50-day moving average (~3,324 USD) and struggled to maintain above 3,300 USD. The failure to maintain the upward momentum and the repeated failure when reaching 3,500 USD/ounce shows the prospect of a short-term decline.
He noted that the cooling of Israel-Iran tensions has reduced demand for shelter, a factor that had previously pushed gold up. At the same time, the $3,100 - $3,400 accumulation zone remains stable, and the technical signal is shifting negatively. With the selling side controlling and the momentum weakening, there is a good chance of downward pressure before a new increase" - he said.
Precious metals expert Jim Wyckoff predicts gold will continue to decline. Gold prices have fallen steadily due to worsening technical models and investor sentiment increasingly taking risks.
On the other hand, Mr. James Stanley - Senior Market Strategist at Forex.com - commented. I think the recent decline is just a move to adjust the portfolio before the end of the quarter. I have not seen much change in gold's bullish stance over the past week, as some members of the US Federal Reserve (FED), especially Mr. Powell, have been more dovish and emphasized the possibility of a rate cut in the second half of the year.
Daniel Pavilonis - Senior Commodity Broker at RJO Futures - predicted that demand for shelter and tariff-related factors will continue to decline, even as expectations of interest rate cuts and concerns about the Fed's independence increase.
I think that is what we will continue to see. In particular, if there are upcoming trade agreements, many geopolitical risks will gradually cool down. I think the driver for gold demand over the past few months will gradually decrease, and we could see lower oil prices, he said.
Mr. Pavilonis predicted that gold prices will return to the 200-day moving average. I think gold will eventually rebound. But in recent months, I have not seen any new buying cash flow. I started to see profit-taking, I haven't seen anyone selling for bad, but it could happen, he added.
He also said that cash flow is shifting to other metals such as platinum, palladium and especially silver.
I think that is an upcoming trend. Gold is slowing down, and the flow of money into other metals is becoming more prominent, he said.
Note: Gold price data is compared to a day earlier.
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