SJC gold bar price
As of 6:00 AM on May 8, SJC gold bar prices were listed by DOJI at the threshold of 164.5-167.5 million VND/tael (buying - selling), an increase of 1.5 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 164.5-167.5 million VND/tael (buying - selling), an increase of 1.5 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 164.5-167.5 million VND/tael (buying - selling), an increase of 1.5 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 8, DOJI listed the price of gold rings at the threshold of 164.5-167.5 million VND/tael (buying - selling), an increase of 1.5 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 the price of gold rings at the threshold of 164.5-167.5 million VND/tael (buying - selling), an increase of 1.5 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 Gold and Gems Group listed the price of gold rings at the threshold of 164.3-167.3 million VND/tael (buying - selling), an increase of 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.
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 10:55 PM on May 7, world gold prices were listed around the threshold of 4,729.8 USD/ounce, up 35.5 USD/ounce.
Gold price forecast
World gold prices continue to maintain strong growth momentum as the USD weakens, oil prices plummet and US bond yields fall, in the context of the market expecting tensions between the US and Iran to soon cool down.
In the trading session on May 8, spot gold prices at one point jumped to the highest level in two weeks, fluctuating around the threshold of 4,735-4,745 USD/ounce. Silver also increased sharply by more than 5%, reflecting the psychology of returning to the precious metal group of global investors.
The biggest driver supporting gold comes from developments in the energy market. WTI oil prices fell sharply to around 91.85 USD/barrel, while Brent oil retreated below 98 USD/barrel after information that the US and Iran are getting closer to a peace agreement. Investors expect that if the Hormuz Strait resumes normal transportation, oil supply pressure will be significantly reduced.
Mr. Fawad Razaqzada - market analyst at City Index - said that the diễn biến of gold prices currently largely depends on the decline of crude oil.
According to him, when oil prices go down, bond yields often decline because the market lowers expectations about the ability of central banks to continue raising interest rates. This creates a favorable environment for gold and silver to recover.
In addition, the continued weakening of the USD also makes gold more attractive to investors holding other currencies. The DXY index fell to around 97.88 points, while the yield of 10-year US government bonds fell to the 4.3% range.
Some recent US economic data shows that the labor market still maintains stability but has shown signs of slight cooling down. The number of initial jobless claims increased to 200,000 claims last week, higher than the previous week but still lower than analysts' forecasts.
Meanwhile, the ADP jobs report shows that the US private sector created an additional 109,000 jobs in April, significantly higher than the level of the previous month. However, this figure is still lower than market expectations, causing investors to continue to wait for the non-farm payroll report released at the end of the week to assess the monetary policy outlook of the US Federal Reserve (Fed).
In addition to macroeconomic factors, the demand for gold from the central bank of China continues to be a noteworthy support for precious metals. This is the 18th consecutive month that China has increased its gold reserves, showing that the trend of safe-haven asset accumulation has not cooled down.
Gold price data is compared to the previous day.
See more news related to gold prices HERE...
