Gold price update morning of July 5th: May increase next week

SJC gold bar price

As of 6:00 AM, Phu Quy Jewelry Group listed SJC gold bar prices at 148-151.4 million VND/tael (buying - selling), unchanged in both buying and selling directions. The difference between buying and selling prices is at 3.4 million VND/tael.

SJC gold bar price was listed by DOJI at the threshold of 148.4-151.4 million VND/tael (buying - selling), unchanged 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 is listed by Bao Tin Minh Chau at the threshold of 147.5-151 million VND/tael (buying - selling), unchanged in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3.5 million VND/tael.

9999 gold ring price

As of 6:00 AM, Phu Quy Gold and Gems Group listed the price of gold rings at 148-151 million VND/tael (buying - selling), unchanged in both buying and selling. The difference between buying and selling prices is at 3 million VND/tael.

DOJI listed the price of gold rings at the threshold of 148.4-151.4 million VND/tael (buying - selling), unchanged 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 gold ring prices at the threshold of 147.5-151 million VND/tael (buying - selling), unchanged in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3.5 million VND/tael.

World gold price

At 6:00 AM, world gold prices were listed around the threshold of 4,174.1 USD/ounce.

Gold price forecast

The latest survey shows that optimistic sentiment is returning to the gold market after the precious metal ended its four-week consecutive decline. Wall Street analysts are currently clearly leaning towards a scenario where gold prices continue to rise in the short term.

Among the 16 experts participating in the survey, 11 people, equivalent to 69%, predict that gold prices will increase next week. Only 2 experts, accounting for 13%, believe that the market may adjust down, while the remaining 3 people, equivalent to 19%, predict that gold prices will move sideways and accumulate.

Positive sentiment also appeared in the group of individual investors. Among the total of 183 people participating in the online survey, 99 people, equivalent to 54%, expect gold prices to continue to increase. 45 people, accounting for 25%, forecast prices to decrease, and 39 people, equivalent to 21%, believe that the market will enter an accumulation phase.

The change in investor expectations takes place in the context that gold prices have just had a remarkable recovery week. The main driving force comes from the weakening of the USD and changes in expectations for the Fed's monetary policy. The less positive signals from the US labor market are making investors more cautious about the possibility of interest rates remaining high for a long time.

However, the upward trend of gold prices may still face strong fluctuations. US government bond yields are still high, meaning that the opportunity cost of holding non-performing assets such as gold has not decreased significantly.

In addition, the market still has to assess new economic data before forming clearer expectations about the Fed's policy roadmap.

In the short term, the diễn biến of the USD, US bond yields and signals from the labor market are forecast to continue to play an important role for gold prices. The fact that most experts and individual investors are leaning towards the possibility of price increase shows that market sentiment has clearly improved, although the upward outlook still needs more momentum to be consolidated.