SJC gold bar price
As of 6:00 AM, Phu Quy Jewelry Group listed SJC gold bar prices at 145-148.5 million VND/tael (buying - selling), down 1.5 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3.5 million VND/tael.
SJC gold bar price was listed by DOJI at the threshold of 145.5-148.5 million VND/tael (buying - selling), down 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 144.3-148.3 million VND/tael (buying - selling), down 1.2 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 4 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 145-148 million VND/tael (buying - selling), down 1.5 million VND/tael for both buying and selling. The difference between buying and selling prices is at 3 million VND/tael.
DOJI listed gold ring prices at the threshold of 145.5-148.5 million VND/tael (buying - selling), down 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 144.3-148.3 million VND/tael (buying - selling), down 1.2 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 4 million VND/tael.
World gold price
At 0:00, the world gold price was listed around 4,612.1 USD/ounce, down 83.7 USD.
Gold price forecast
Gold prices are under adjustment pressure as US-Iran tensions escalate again but have not created strong enough safe-haven buying power to compensate for the impact from the USD, bond yields and oil prices both increasing.
Before the opening of the North American market, spot gold prices fluctuated around 4,074 USD/ounce, down about 0.75%. During the session, this precious metal traded in the range of 4,040-4,135 USD/ounce. Although still maintaining above the psychological level of 4,000 USD/ounce, gold prices could not overcome the strong resistance zone of 4,162-4,214 USD/ounce, an area that once limited the recent recovery momentum.
Developments in the Strait of Hormuz continue to be a factor closely monitored by the market. Transportation through this area has not been completely disrupted, but the risk of further attacks is increasing. New developments, along with military moves and tensions related to Iran's oil exports, have pushed oil prices up.
In that context, geopolitical risks have not brought a clear advantage to gold. Higher oil prices may increase inflationary pressure, thereby strengthening expectations of high interest rates. The rising USD and US bond yields also make gold less attractive to investors.
The US labor market still created some supporting factors for the precious metal. The number of non-farm jobs in June only increased by 57,000, lower than the forecast of 115,000. Data from the previous two months was also adjusted down by a total of 74,000 jobs. This report once helped ease concerns about the possibility of the Fed continuing to tighten policy and support gold prices to stay above 4,000 USD/ounce.
However, the developments in the interest rate market are more disadvantageous for gold. The probability of the Fed raising interest rates in September has increased to about 68%, while the yield of 10-year US government bonds fluctuates around 4.58%. The USD index also increased to nearly 101.18 points.
In the short term, investors focus on the minutes of the Fed meeting, US inflation data released on July 14, and transportation developments through the Strait of Hormuz. If the Fed sends a tough signal, gold prices may test the support zone of 4,041-4,072 USD/ounce. Conversely, cooling inflation data may pave the way for gold prices to recover.
Technically, the 4,162-4,214 USD/ounce zone is an important resistance. If it surpasses this zone sustainably, gold prices may head towards the 50-day average around 4,372 USD/ounce. In the opposite direction, if it loses the 4,0001 USD/ounce mark, the price is at risk of falling back to the 3,942 USD/ounce, or even 3,886 USD/ounce areas.
Gold price data is compared to the previous day.
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