SJC gold bar price
As of 10:00 AM, SJC gold bar prices were listed by DOJI Group at the threshold of 131-136 million VND/tael (buying - selling), down 5.3 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 5 million VND/tael.
Bao Tin Minh Chau listed SJC gold bar prices at 132.2-13.72 million VND/tael (buying - selling), down 4.3 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 5 million VND/tael.
Phu Quy Jewelry Group listed SJC gold bar prices at 131-136 million VND/tael (buying - selling), down 4 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 5 million VND/tael.
9999 gold ring price
As of 10:00 AM, DOJI Group listed gold ring prices at 132-136.5 million VND/tael (buying - selling), down 4.3 million VND/tael on the buying side and down 4.8 million VND/tael on the selling side. The difference between buying and selling prices is at 4.5 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 132.2-13.72 million VND/tael (buying - selling), down 4.3 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 5 million VND/tael.
Phu Quy Gold and Gems Group listed the price of gold rings at 131-136 million VND/tael (buying - selling), down 5.3 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 5 million VND/tael.
Currently, the buying - selling price difference of gold is at a very high level, around 5 million VND/tael, posing a risk of losses for investors.
World gold price
At 10:13 AM, world gold prices were listed around the threshold of 4,065.5 USD/ounce, down 115.1 USD compared to the previous day.
Gold price forecast
World gold prices continue to face strong downward pressure as the market shifts its focus from safe haven factors to the risk of prolonged high inflation and interest rates. Despite escalating geopolitical tensions in the Middle East, gold no longer benefits as clearly as in previous periods, as rising oil prices are raising concerns about new inflation.
According to Kitco's market report, spot gold prices plummeted after the US May inflation data was released, amid US Treasury bond yields remaining high. The US consumer price index increased by 0.5% in May and 4.2% compared to the same period last year.
Notably, energy prices increased sharply, in which gasoline prices increased by more than 40% compared to a year ago, causing the market to worry that inflationary pressure may be more persistent than expected.
This development has further weakened expectations that the US Federal Reserve (Fed) will soon ease monetary policy. While gold is often seen as an inflation hedging tool, a high interest rate environment increases the opportunity cost of holding unprofitable precious metals. This is the reason why gold fell sharply even though geopolitical risks are still high.
Tensions around the Strait of Hormuz continue to be a factor closely watched by investors. However, instead of triggering safe-haven cash flow into gold, the risk of oil supply disruption is pushing energy prices up, leading to increased bond yields and putting downward pressure on precious metals. US stock markets also simultaneously fell, showing cautious sentiment covering many types of assets.
Independent metal trader Tai Wong said the market is currently "very much in need of some positive information" after a series of economic data and tough statements related to Iran. In the short term, gold may continue to fluctuate strongly if US inflation, manufacturing or employment data increases the possibility of the Fed maintaining a tough stance.
Technically, the 4,100 USD/ounce zone is a near noteworthy support level. If losing this zone, gold prices may retreat to the psychological level of 4,000 USD/ounce. Conversely, to improve the trend, the price needs to recover back to the resistance zone of 4,180-4,200 USD/ounce.
Meanwhile, Paul Wong - market strategist at Sprott Asset Management - believes that inflation, central bank gold buying activity and concerns about currency devaluation are still important supporting factors for gold in the long term.
Gold price data is compared to the previous day.
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