SJC Gold Bar Price
9999 Gold Ring Price
As of 1:00 AM, the 9999 pure gold ring price at DOJI is listed at 75.85-77.10 million VND/tael (buy - sell); up 50,000 VND/tael on both sides.
Saigon Jewelry Company lists the gold ring price at 75.6-77.05 million VND/tael (buy - sell); up 100,000 VND/tael on the buy side and up 50,000 VND/tael on the sell side.
Bao Tin Minh Chau lists the gold ring price at 75.88-77.08 million VND/tael (buy - sell); unchanged.
In recent sessions, the gold ring price often fluctuates in line with the global market. Investors can refer to the global market and expert opinions before making investment decisions.
Global Gold Price
As of 1:00 AM on July 30, the global gold price listed on Kitco is at 2,377.2 USD/ounce, down 8.9 USD/ounce.
Gold Price Forecast
The global gold price has decreased as the USD index has risen. As of 1:00 AM on July 30, the US Dollar Index, which measures the greenback's volatility against six major currencies, is at 104.302 points (up 0.24%).
According to Kitco, besides the higher USD index, gold prices are under pressure as crude oil prices have dropped sharply.
Today's important external markets see Nymex crude oil prices hitting a six-week low and trading around 75.50 USD/barrel. The benchmark 10-year US Treasury yield is currently around 4.16%.
Additionally, there are reports from Asia indicating that consumer demand for gold jewelry has recently declined due to high retail prices and concerns about China's economic growth.
Darin Newsom, senior market analyst at Barchart.com, believes gold prices will fall next week: “Another sell-off next week could push gold prices further down. The current resistance level is 2,350 USD/ounce."
Sean Lusk, co-director of commercial hedging at Walsh Trading, is monitoring price movements on Friday and adjusting his expectations for gold. He believes that money is flowing back into the gold market and precious metals will soon rise in price.
Sean Lusk said it is difficult to bet on a gold price drop when geopolitical, economic, and financial conditions are highly volatile. Lusk stated: “China has been out of the gold market for a few months, but they may return. Global geopolitical uncertainties are also driving gold prices. Any decline could be an opportunity to buy."
However, this expert also sees both upside and downside risks for gold prices at the moment. He said: “If gold cannot hold the 2,285 USD/ounce level, the precious metal could drop another 100 USD."
