9999 gold ring price
Phu Quy Gold and Gems Group listed the price of gold rings at the threshold of 145.7-148.7 million VND/tael (buying - selling), down 1.5 million VND/tael in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.
DOJI listed the price of gold rings at the threshold of 145.7-149.7 million VND/tael (buying - selling), down 2 million VND/tael in both buying and selling directions. The buying - selling difference is at 4 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 145.3-149.3 million VND/tael (buying - selling), down 1.9 million VND/tael in both buying and selling directions. The buying - selling difference is at 4 million VND/tael.
SJC gold bar price
As of 5:00 PM, Phu Quy listed SJC gold bar prices at the threshold of 145.7-148.7 million VND/tael (buying - selling), down 1.5 million VND/tael in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.
SJC gold bar price is listed by DOJI at the threshold of 145.7-148.7 million VND/tael (buying - selling), down 2 million VND/tael in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.
Bao Tin Minh Chau listed SJC gold bar prices at 145.3-149.3 million VND/tael (buying - selling), down 1.9 million VND/tael in both buying and selling directions. The buying - selling difference is at 4 million VND/tael.
Jewelry gold price
DOJI listed 9999 jewelry gold at the threshold of 145-149 million VND/tael (buying - selling), down 1.5 million VND/tael in both buying and selling directions.
Bao Tin Minh Chau listed Thang Long 9999 Dragon Gold Jewelry at 143.3-148.3 million VND/tael (buying - selling), down 2.2 million VND/tael in both buying and selling directions.
World gold price
Recorded at 5:00 PM, world gold prices were listed around the threshold of 4,454.4 USD/ounce, down 144.9 USD/ounce.
Gold price forecast
After a sharp decline at the end of the week, the outlook for gold prices next week is assessed to be volatile as the market must balance pressure from interest rates, the USD with long-term supporting factors.
The latest survey by a precious metals website with many Wall Street experts shows that positive sentiment towards gold has not completely disappeared. Among 21 participating experts, 10 people, equivalent to 48%, predict gold prices will increase next week; 29% believe that prices may continue to fall, while 24% predict the market will move sideways.
In the group of individual investors, 59% of the total 207 survey participants still expect gold to recover. However, the level of optimism has declined after the strong sell-off at the end of the week.
One of the biggest risks for gold today comes from the change in expectations about US monetary policy. After tough signals from the US Federal Reserve (Fed), the market has significantly raised the possibility of interest rates continuing to rise. The strengthening USD along with increased US bond yields makes the opportunity cost to hold gold higher, thereby creating direct pressure on the precious metal.
Technically, the fact that gold prices fell below the 200-day moving average around 4,526 USD/ounce shows that the short-term trend has weakened significantly. If selling pressure continues to increase, the area around 4,320 USD/ounce may become a noteworthy support area. In the opposite direction, gold needs to return above the 4,500-4,526 USD/ounce area to improve recovery prospects.
The focus of next week will shift to a series of US economic data, especially the labor market. JOLTS reports, ADP private sector jobs, unemployment claims and PMI will successively provide more signals about the health of the economy.
Most notably is the August non-farm payroll report released on September 4. If data shows a clear weakening labor market, expectations of the Fed raising interest rates may cool down, pulling down the USD and bond yields, thereby creating conditions for gold to recover.
Conversely, positive job data, especially if wages continue to rise sharply, may strengthen the Fed's ability to maintain a tough monetary policy. In this scenario, adjustment pressure on gold may not end soon.
Therefore, gold prices next week are likely to continue to fluctuate strongly, with US job data and interest rate expectations becoming two factors determining the short-term trend.
Gold price data is compared to the previous day.
The information in the article only reflects market developments, not investment recommendations.
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