SJC gold bar price
As of 6:00 AM on May 6th, SJC gold bar prices were listed by DOJI at the threshold of 162-165 million VND/tael (buying - selling), down 1.3 million VND/tael 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 was listed by Bao Tin Minh Chau at the threshold of 162-165 million VND/tael (buying - selling), down 1 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.
Phu Quy Jewelry Group listed SJC gold bar prices at the threshold of 162-165 million VND/tael (buying - selling), down 1.3 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.
9999 gold ring price
As of 6:00 AM on May 6th, DOJI listed gold ring prices at the threshold of 162-165 million VND/tael (buying - selling), down 1.3 million VND/tael 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 162-165 million VND/tael (buying - selling), down 1.3 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.
Phu Quy Jewelry Group listed gold ring prices at the threshold of 162-165 million VND/tael (buying - selling), down 1 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.
Currently, the buying - selling price difference of gold is at a very high level, around 3 million VND/tael, posing a risk of losses for investors.
World gold price
At 10:40 PM on May 5, world gold prices were listed around the threshold of 4,574.1 USD/ounce, up 53.1 USD/ounce.
Gold price forecast
Under strong adjustment pressure in the first session of the week, world gold prices quickly recorded a recovery in Tuesday morning's trading session (US time) when bottom-fishing buying appeared.
Spot precious metals at one point rose around 4,563 USD/ounce, up nearly 1%, while silver also recovered more than 1.6%. This development shows that market sentiment is still quite sensitive after the deep decline from the previous futures market.
Previously, the May gold futures contract on the Comex exchange fell sharply by more than 110 USD/ounce, equivalent to 2.38%, to 4,519.5 USD/ounce. Low liquidity due to many major markets such as China, Japan and the UK having holidays amplified the decrease range, creating a basis for the subsequent technical recovery.
According to some experts, the current recovery momentum is mainly technical and not enough basis to establish a sustainable upward trend. Gold prices are still under pressure from the strengthening USD and US bond yields remain at a high level, around 4.4% for 10-year terms. This is a disadvantageous factor for non-performing assets like gold.
In the opposite direction, geopolitical risks continue to play a role in supporting the market. Tensions between the US and Iran and instability in the Strait of Hormuz have caused oil prices to remain high, with Brent oil around 112 USD/barrel.
However, this development has increased concerns about inflation, thereby strengthening expectations that central banks will maintain tight monetary policy for longer.
Notably, the Reserve Bank of Australia has just raised interest rates by another 0.25 percentage points to 4.35%, marking the third consecutive increase in the year. This move reflects the general trend of global central banks being cautious with easing, especially in the context of high energy prices.
Technically, gold prices are in a period of accumulation after a sharp drop. The important resistance level is in the range of 4,568-4,615 USD/ounce. If surpassed, the price may head towards the range of 4,630-4,670 USD/ounce. Conversely, if losing the support level of 4,502 USD/ounce, the market may fall deeper into the range of 4,485-4,450 USD/ounce.
In the short term, analysts believe that gold prices are likely to continue to fluctuate sideways, depending on the developments of US economic data and global geopolitical tensions.
Gold price data is compared to the previous day.
The world gold and silver market operates through two main pricing mechanisms. The first is the spot market, where the buying and selling and immediate delivery prices are listed. The second is the futures market, where prices are set for future delivery.
Due to the impact of year-end position restructuring and market liquidity, the December gold futures contract is currently the most actively traded contract on the CME exchange.
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