SJC gold bar price
As of 6:00 a.m., the price of SJC gold bars was listed by DOJI Group at 146.4-148.4 million VND/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling prices is at 2 million VND/tael.
The price of SJC gold bars was listed by Bao Tin Minh Chau at 146.9-148.4 million VND/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling prices is at 1.5 million VND/tael.
Phu Quy Jewelry Group listed the price of SJC gold bars at 145.9-148.4 million VND/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling prices is at 2.5 million VND/tael.
9999 gold ring price
As of 6:00 a.m., DOJI Group listed the price of gold rings at 145.3-148.3 million VND/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling is 3 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 146.2-149.2 million VND/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling is 3 million VND/tael.
Phu Quy Gold and Stone Group listed the price of gold rings at 145.4-148.4 million VND/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling is 3 million VND/tael.
The high buying and selling distance increases the risk for individual investors. Personal investors, especially those with a "surfing" mentality, need to consider carefully before putting money down.
World gold price
The world gold price was listed at 6:00 a.m. at 4,001.1 USD/ounce.
Gold price forecast
Gold prices have just experienced a week of strong fluctuations. Wall Street analysts said that in the short term, gold prices are likely to continue to struggle with a narrow range.
The latest weekly gold survey by an international financial information platform shows that industry experts are in a rare state of neutrality and balance.
Of the 14 analysts, 3 experts (equivalent to 21%) predict gold prices will increase next week, 3 others (21%) predict prices will decrease, while the remaining 8 people (57%) believe that gold will continue to fluctuate sideways within a narrow range.
Meanwhile, the survey results with 282 retail investors are reinforcing optimism. 180 individual traders (64%) expect gold prices to increase next week, 51 people (18%) expect prices to decrease, and 51 others (18%) expect gold to continue moving sideways in the coming time.
Ole Hansen - Director of Commodity Strategy at Saxo Bank - said that current selling pressure does not change the long-term outlook for gold. However, he predicted that prices will continue to accumulate sideways.
The previous accumulation period lasted four months, so if prices set a new record before the end of the year, it would be surprising. FED Chairman Jerome Powell is cautious because the situation is unpredictable, while the US-China trade deal has not actually solved the core problem. Therefore, patience is the right strategy at this time" - he commented.
Meanwhile, Philip Streible - chief strategist at Blue Line Futures commented that gold still has room for increase in the short term, but needs to surpass the 4,175 USD/ounce threshold to regain a clear uptrend.
Weaker data next week could reflect a weakening labor market, forcing the Fed to continue policy easing despite Powells caution. This could create a driver for gold prices," Streible said.
Notably, Bridgewater Associates founder billionaire Ray Dalio believes that gold is not just a speculative asset but a platform currency - a currency that has truly held its value throughout history.
According to him, investors should hold between 5% and 15% of their portfolios in gold, and even more during wartime or when the legal precedent is depreciated.
There is no denying that gold is money and is the type of money that is at the risk of being depreciated or having its value confiscated the most, Dalio wrote in a post on Thursday.
Economic data to watch this week
Monday: Manufacturing ISM index.
Wednesday: ADP Employment Report, ISM survey for the service sector.
Thursday: Bank of England (BoE) monetary policy meeting.
Friday: Preliminary survey of consumer confidence - University of Michigan.
Note: Gold price data is compared to a day earlier.
See more news related to gold prices HERE...
