SJC gold bar price
As of 6:00 AM, SJC gold bar prices were listed by DOJI at 163-166 million VND/tael (buying - selling), an increase of 1 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.
SJC gold bar prices were listed by Bao Tin Minh Chau at the threshold of 163-166 million VND/tael (buying - selling), an increase of 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 163-166 million VND/tael (buying - selling), an increase of 1 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.
9999 gold ring price
As of 6:00 AM, DOJI listed the price of gold rings at 163-166 million VND/tael (buying - selling), an increase of 1 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 163-166 million VND/tael (buying - selling), an increase of 1 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.
Phu Quy Jewelry Group listed the price of gold rings at 163-166 million VND/tael (buying - selling), an increase of 1 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 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 0:15 AM, world gold prices were listed around 4,694.3 USD/ounce, up 120.2 USD/ounce.
Gold price forecast
According to Kitco, world gold prices rebounded as fears of inflation eased, the USD weakened and US bond yields fell, boosting cash flow back to the precious metal group.
The biggest driver supporting the precious metals market comes from the sharp drop in oil prices. Brent oil prices at times fell by 11%, retreating below the 98 USD/barrel mark, after information that the US and Iran were closer to a preliminary peace agreement.
Reuters quoted information from the Iranian Islamic Revolutionary Guard Corps as saying that the Strait of Hormuz could be reopened if "external threats" cease.
The sharp drop in oil prices caused inflation hedging pressure on the energy market to cool down, thereby pulling the yield of 10-year US Treasury bonds down to around 4.37%. The USD also weakened as the DXY index fell nearly 0.5%, creating conditions for gold to recover.
In addition, investors are expecting the US Federal Reserve (FED) to be less rigid in monetary policy if inflationary pressure from energy continues to cool down in the near future.
US private sector job data released by ADP is still more positive than forecast, with 109,000 new jobs created in April. However, this information is not enough to reduce the attractiveness of gold, as the market is currently more focused on oil prices, bond yields and the greenback.
Mr. David Morrison - senior analyst at Trade Nation - said that the sharp drop in oil has triggered a "risk-loving" wave in global financial markets. However, he also warned that international transportation and trade could take months to return to normal even if the Strait of Hormuz is fully opened.
Technically, analysts believe that gold prices are continuing the recovery process after the sell-off at the beginning of the week. The important resistance level for gold is in the range of 4,722-4,750 USD/ounce. If it crosses this range, gold prices may head towards the threshold of 4,800-4,850 USD/ounce.
In the opposite direction, the nearest support zone for gold is determined around 4,600 USD/ounce. If this level is lost, the precious metal price is at risk of adjusting deeper to the zones of 4,568 USD/ounce and 4,514 USD/ounce.
Gold price data is compared to the previous day.
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