SJC gold bar price
As of 6:00 AM, Phu Quy listed SJC gold bar prices at the threshold of 144.5-148.2 million VND/tael (buying - selling), down 500,000 VND/tael in both buying and selling directions. The buying - selling difference is at 3.7 million VND/tael.
At the same time, SJC gold bar prices were listed by DOJI at the threshold of 145.7-148.7 million VND/tael (buying - selling), unchanged in both buying and selling directions. The buying - selling difference was at 3 million VND/tael.
SJC gold bar price was listed by Bao Tin Minh Chau at the threshold of 144.8-148.8 million VND/tael (buying - selling), down 400,000 VND/tael in both buying and selling directions. The buying - selling difference is at 4 million VND/tael.
9999 gold ring price
As of 6:00 AM, Ancarat listed the price of 9999 Tich Tai Gold Ring at 145.3-148.3 million VND/tael (buying - selling), down 300,000 VND/tael in both buying and selling directions. The buying - selling difference is at 3.2 million VND/tael.
Phu Quy Jewelry Group listed the price of gold rings at the threshold of 144.5-148 million VND/tael (buying - selling), down 900,000 VND/tael on the buying side and down 400,000 VND/tael on the selling side. The buying - selling difference is at 3.5 million VND/tael.
DOJI Group listed gold ring prices at the threshold of 144.5-148.5 million VND/tael (buying - selling), down 700,000 VND/tael in both buying and selling directions. The buying - selling difference is at 4 million VND/tael.
The price of gold rings is listed by Bao Tin Minh Chau at the threshold of 144.8-148.8 million VND/tael (buying - selling), down 400,000 VND/tael in both buying and selling directions. The difference between buying and selling is at 4 million VND/tael.
Jewelry gold price
As of 6:00 AM, Ancarat listed the price of 24K 9999 Gold Jewelry at 140.3-148.3 million VND/tael (buying - selling), down 300,000 VND/tael in both buying and selling directions.
DOJI listed 9999 jewelry gold at the threshold of 143.5-147.5 million VND/tael (buying - selling), down 1 million VND/tael in both buying and selling directions.
Bao Tin Minh Chau listed Thang Long 9999 Dragon Gold Jewelry at 142.8-147.8 million VND/tael (buying - selling), down 400,000 VND/tael in both buying and selling directions.
World gold price
Recorded at 11:20 PM, world gold prices were listed around the threshold of 4,369.7 USD/ounce, up 39.6 USD.
Gold price forecast
Gold prices are showing signs of recovery after two sessions of strong selling pressure, but short-term prospects are still quite cautious as the market must balance between the weakening signal of the US labor market and the risk of interest rates continuing to remain high.
The latest data shows that the US private sector only created about 38,000 jobs in August, lower than forecast and the slowest increase since the beginning of the year. This information partly supports gold prices as it increases expectations that the US economy may be losing momentum. In the trading session on September 2, spot gold at one point recovered to around 4,340 USD/ounce before continuing to fluctuate strongly.
However, pressure on precious metals has not completely disappeared. The yield of 10-year US government bonds is still above 4.8%, while the yield of 30-year bonds is around 5.28%. The USD also maintains a relatively stable position. Notably, the market still assesses the possibility that the US Federal Reserve (Fed) will raise interest rates in September at a fairly high level. This is a disadvantageous factor for gold, because precious metals do not generate interest-rate cash flow.
Another notable factor is that oil prices remain high as geopolitical tensions in the Middle East increase concerns about shipping through the Strait of Hormuz. Rising oil prices may support safe-haven demand for gold, but at the same time raise the risk of inflation returning, thereby boosting bond yields and expectations of the Fed tightening monetary policy. Therefore, the impact of geopolitical tensions on gold is currently two-way.
Technically, the 4,422 USD/ounce zone is becoming an important resistance level. If it surpasses and maintains above this area, gold prices may head towards 4,487 USD/ounce, and further to 4,573 USD/ounce.
In the coming sessions, the US non-farm payroll data for August will be the focus. A weaker-than-expected payroll may help gold extend its recovery momentum. However, to form a more sustainable upward trend, the market is likely to see bond yields and the USD cool down significantly.
Gold price data is compared to the previous day.
The information in the article only reflects market developments, not investment recommendations.
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