SJC gold bar price
As of 6:00 AM on June 6th, SJC gold bar prices were listed by DOJI at 149.2-153.2 million VND/tael (buying - selling), down 3.8 million VND/tael on the buying side and down 2.8 million VND/tael on the selling side. The difference between buying and selling prices is at 4 million VND/tael.
SJC gold bar price was listed by Bao Tin Minh Chau at the threshold of 150.8-153.8 million VND/tael (buying - selling), down 2.2 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 149.2-153.2 million VND/tael (buying - selling), down 3.8 million VND/tael on the buying side and down 2.8 million VND/tael on the selling side. The difference between buying and selling prices is at 4 million VND/tael.
9999 gold ring price
As of 6:00 AM on June 6th, DOJI listed the price of gold rings at 149.2-153.2 million VND/tael (buying - selling), down 3.8 million VND/tael on the buying side and down 2.8 million VND/tael on the selling side. The difference between buying and selling prices is at 4 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 150.8-153.8 million VND/tael (buying - selling), down 2.2 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.
Phu Quy Gold and Gems Group listed the price of gold rings at 149.2-152.7 million VND/tael (buying - selling), down 3.8 million VND/tael on the buying side and down 3.3 million VND/tael on the selling side. The difference between buying and selling prices is at 3 million VND/tael.
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 10:30 PM on June 5th, world gold prices were listed around the threshold of 4,350.4 USD/ounce, down sharply by 123 USD/ounce.
Gold price forecast
World gold prices are under strong downward pressure after the US May jobs report was more positive than forecast. This data weakens expectations that the US Federal Reserve (Fed) will cut interest rates soon, while pushing US Treasury bond yields and the USD back up.
According to Kitco, the US labor market continues to show good resilience as the economy created 172,000 jobs in May, much higher than the forecast of 80,000 jobs. The unemployment rate remained at 4.3%. This report caused investors to reduce bets on the possibility of the Fed soon easing monetary policy.
The above developments are detrimental to gold, because the precious metal does not bring interest rates. As US bond yields increase and the USD strengthens, the opportunity cost of holding gold is higher, thereby reducing the attractiveness of this safe-haven asset. The USD index increase also makes gold more expensive for investors holding other currencies.
Besides the interest rate factor, gold prices are still affected by geopolitical developments in the Middle East, especially risks related to the Strait of Hormuz. However, according to analysts, the impact from this factor is still under control and has not created a major shock to the global commodity and financial markets.
Oil prices are still anchored at high levels, but have not yet exceeded the threshold that could cause strong disruption. This puts gold in a state of stalemate: on the one hand, it is still supported by risk hedging needs, on the other hand, it is under pressure from high bond yields, strong USD and expectations of interest rate changes.
Technically, Kitco experts believe that buyers need to bring gold prices back above the 4,481 USD/ounce range to improve short-term prospects. If this range is surpassed, gold prices may head towards the 50-day average around 4,630 USD/ounce. Conversely, if the price falls below the support zone of nearly 4,428 USD/ounce, selling pressure may increase, pulling prices deeper back to lower support zones.
In the short term, the gold market is likely to continue to fluctuate strongly according to US economic data, USD developments, bond yields and new signals from the Fed.
Gold price data is compared to the previous day.
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