Gold price update morning of May 30th: Strong recovery

SJC gold bar price

As of 6:00 AM, SJC gold bar prices were listed by DOJI at the threshold of 155.5-158.5 million VND/tael (buying - selling), an increase of 1 million 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 155.5-158.5 million VND/tael (buying - selling), an increase of 1 million 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 155.5-158.5 million VND/tael (buying - selling), an increase of 1 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

9999 gold ring price

As of 6:00 AM, DOJI listed gold ring prices at the threshold of 155.5-158.5 million VND/tael (buying - selling), an increase of 1 million 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 the threshold of 155.5-158.5 million VND/tael (buying - selling), an increase of 1 million 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 Gold and Gems Group listed the price of gold rings at 155-158 million VND/tael (buying - selling), an increase of 500,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at 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 3:15 AM, world gold prices were listed around 4,545.2 USD/ounce, up 60.3 USD.

Gold price forecast

The precious metal market is focusing its attention on the health of the US economy. After a recent strong increase, world gold prices are facing important technical resistance levels and pressure from a series of macroeconomic data that could shape the policy of the US Federal Reserve (Fed).

Experts at Wall Street said that investor sentiment is struggling between expectations of interest rate cuts and job reports. Gold is strongly supported by safe-haven demand and the buying wave of central banks.

However, volatility will be unavoidable as the market reacts to a series of data from ISM Manufacturing PMI (Monday), JOLTs Job Openings (Tuesday), to the most important data, the Non-Farm Payrolls on Friday.

Technically, many analysts are maintaining a cautious optimistic view. A market analyst said: "Gold prices are compressing themselves between the 200-day moving average and the upper resistance level of the trend channel.

If the closing price remains above the 4. 510 USD/ounce mark, the price increase scenario is still completely feasible." This expert also noted that the weekly chart is forming a positive hammer candlestick pattern, reinforcing the hypothesis that this is a higher bottom after the test at the 4. 100 USD/ounce mark at the end of March.

However, the market still needs to be particularly cautious with the threshold of 4,500 USD/ounce. If closing below this level, investors should reconsider their short-term strategy, because positive job data may reduce expectations of monetary policy easing, thereby putting pressure on gold prices through the strengthening of the USD and the increase in bond yields.

In the domestic market, although the buying-selling spread has been significantly narrowed compared to the peak, the current level of 3 million VND/tael still poses a major risk for swing traders.

Experts recommend that investors should closely monitor world price movements and US economic indicators next week to make reasonable disbursement decisions, avoiding psychological "traps" during a period of strong market fluctuations.