SJC gold bar price
As of 6:30 PM, Phu Quy, DOJI, Bao Tin Minh Chau listed SJC gold bar prices at 143.6-146.6 million VND/tael (buying - selling), an increase of 1.2 million VND/tael in both buying and selling directions compared to this morning's trading session. The buying - selling difference is at 3 million VND/tael.
9999 gold ring price
Phu Quy Gold and Gems Group listed the price of gold rings at the threshold of 142.4-145.8 million VND/tael (buying - selling), simultaneously going sideways in both buying and selling directions. The buying - selling difference is at 3.3 million VND/tael.
DOJI Group listed gold ring prices at the threshold of 143.7-147.7 million VND/tael (buying - selling), unchanged in both buying and selling directions. The buying - selling difference is at 4 million VND/tael.
The price of gold rings is listed by Bao Tin Minh Chau at 144-148 million VND/tael (buying - selling), an increase of 400,000 VND/tael in both directions compared to this morning's trading session. The buying - selling difference is at 4 million VND/tael.
Jewelry gold price
Phu Quy listed the price of 9999 jewelry gold at 140-145 million VND/tael (buying - selling), down 900,000 VND/tael compared to yesterday's closing session.
DOJI listed 9999 jewelry gold at the threshold of 143-147 million VND/tael (buying - selling), unchanged in both buying and selling directions compared to this morning's trading session.
Bao Tin Minh Chau listed Thang Long 9999 Dragon Gold Jewelry at 142-147 million VND/tael (buying - selling), down 900,000 VND/tael in both buying and selling directions compared to the previous closing session.
World gold price
Recorded at 6:45 PM, world gold prices were listed around the threshold of 4,404.5 USD/ounce, up 48.3 USD.
Gold price forecast
Spot gold prices rebounded, surpassing the 4,400 USD/ounce mark. Meanwhile, the USD index, a measure of the strength of the greenback against a basket of global currencies, remained almost unchanged at 98.77. Some analysts believe that the recent appreciation of the Japanese Yen in the past week is the main reason for the relative weakening of the USD.
A weaker USD may boost gold prices as the precious metal becomes cheaper for buyers abroad.
Meanwhile, Iran and the US have had another back-and-forth attack in areas in the Middle East, reducing the prospect of an early end to the six-month conflict. Brent crude oil futures, the global oil price benchmark, once again exceeded the 100 USD/barrel mark, reflecting concerns about prolonged energy supply shortages across the Strait of Hormuz - a vital waterway off the southern coast of Iran.
The rebound in oil prices threatens to exacerbate concerns about energy-related inflation, just ahead of a series of interest rate decisions by central banks in the coming days.
The market is currently betting about a 60% probability that the Federal Reserve (Fed) will raise interest rates by another 25 basis points next Wednesday, up from 40% a week earlier. Policymakers have signaled their desire to prioritize curbing inflationary pressure, while new signs of labor market resilience further reinforce arguments in favor of increasing borrowing costs.
In theory, raising interest rates can curb inflation, but it comes with the risk of putting pressure on the job market and economic growth in general.
For gold, high interest rates can reduce demand by increasing the opportunity cost of holding this non-profit asset.
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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