SJC gold bar price
As of 6:00 a.m., DOJI Group listed the price of SJC gold bars at 129.1-130.6 million VND/tael (buy in - sell out), an increase of 1.7 million VND/tael in both directions. The difference between buying and selling prices is at 1.5 million VND/tael.
Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 128.6-130.6 million VND/tael (buy - sell), an increase of 1.2 million VND/tael for buying and an increase of 1.7 million VND/tael for selling. The difference between buying and selling prices is at 2 million VND/tael.
Phu Quy Jewelry Group listed the price of SJC gold bars at 128.1-130.6 million VND/tael (buy in - sell out), an increase of 1.7 million VND/tael 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 122.5-125.5 million VND/tael (buy in - sell out), an increase of 1.9 million VND/tael 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 122.6-125.6 million VND/tael (buy - sell), an increase of 1.4 million VND/tael 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 122.2-125.2 million VND/tael (buy - sell), an increase of 1.9 million VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.
Currently, the difference between buying and selling gold rings is at a very high level, around 3 million VND/tael, posing a potential risk of loss for investors.
World gold price
The world gold price was listed at 6:00 a.m. at 3,446.5 USD/ounce, up 4.1 USD.
Gold price forecast
Michele Schneider - Strategy Director of Market Gauge said that the gold buying signal was activated after the "harmony" speech of the Chairman of the US Federal Reserve (FED) - Mr. Jerome Powell at the annual conference in Jackson Hole.
Mr. Powell acknowledged that the change in the risk balance in the economy could lead to a policy adjustment, and expressed little concern about dragging inflation back to 2%, focusing more on slowing growth and a weakening labor market.
Data released by the US Commerce Department shows that the core personal consumption expenditure (PCE) price index - the FED's preferred inflation measure - increased by 2.9% over the past 12 months, as expected. Despite rising inflation, the market is almost certain that the Fed will cut interest rates in September.
Chris Zaccarelli - Investment Director of Northlight Asset Management commented that as long as the PPI and CPI report in early September did not suddenly increase, the FED would almost certainly cut by 0.25 percentage points.
Phillip Streible - Chief Strategist at Blue Line Futures predicts gold prices will continue to increase in the short term, but need to close above 3,500 USD/ounce to confirm the trend. December gold delivery contracts on the CME have risen to $3,511.50 an ounce, up more than 1% on the day and nearly 3% for the week. He said gold is rising because the market is starting to smell the risk of inflation.
Gold prices are climbing to record highs and are expected to reach $5,000/ounce if the Fed cuts interest rates and global uncertainty continues to rise.
RBC Capital Markets expects gold to average $3,722/ounce in the fourth quarter of 2025, reaching $3,813 by 2026.
InvestingHaven has set a gold scenario of $3,500 this year, or even $3,900 in 2026.
HSBC is more cautious, predicting that gold prices could retreat to around $3,215 in 2025 due to cooling demand.
Some extreme views even say that gold could reach $25,000, but most experts see this as an unlikely prospect.
In short, most major organizations agree that gold will maintain its upward trend in the short and medium term, with the new bottom higher than before. By 2030, many forecasts predict that gold could reach the $5,000/ounce mark if the geopolitical and monetary scenario continues to be unstable.
Notable US economic data next week
Monday: North American market has Labor holiday.
Tuesday: ISM manufacturing PMI.
Wednesday: JOLTS employment data.
Thursday: ADP, unemployment claims, ISM services PMI.
Friday: Non-farm payrolls report.
Note: Gold price data is compared to a day earlier.
See more news related to gold prices HERE...
