SJC gold bar price
As of 9:10 am, Phu Quy Gold and Gems Group listed SJC gold bar prices at the threshold of 146.3-149.9 million VND/tael (buying - selling), unchanged. The difference between buying and selling prices is at the threshold of 3.6 million VND/tael.
At the same time, SJC gold bar prices were listed by DOJI Group at the threshold of 146.9-149.9 million VND/tael (buying - selling), unchanged. The difference between buying and selling prices was at the threshold of 3 million VND/tael.
Bao Tin Minh Chau listed SJC gold bar prices at 145-149 million VND/tael (buying - selling), unchanged. The difference between buying and selling prices is at 4 million VND/tael.
9999 gold ring price
As of 9:10 am, Phu Quy Gold and Gems Group listed the price of gold rings at 145.3-148.8 million VND/tael (buying - selling), down 700,000 VND/tael on the buying side and down 500,000 VND/tael on the selling side. The difference between buying and selling prices is at 3.5 million VND/tael.
DOJI Group listed gold ring prices at 145-149 million VND/tael (buying - selling), down 1 million VND/tael on the buying side and down 500,000 VND/tael on the selling side. The difference between buying and selling prices is at 4 million VND/tael.
Bao Tin Minh Chau listed gold ring prices at 145-149 million VND/tael (buying - selling), unchanged. The difference between buying and selling prices is at 4 million VND/tael.
World gold price
At 9:10 am, world gold prices were listed around the threshold of 4,119.4 USD/ounce, down 10.6 USD/ounce.
Gold price forecast
World gold prices ended the trading week in a state of stalemate as supporting and pressing factors continued to intertwine. US government bond yields remained high, while expectations for monetary policy from the US Federal Reserve (Fed) still made investors cautious. In the opposite direction, the weakening USD and geopolitical risks related to the Strait of Hormuz continue to provide support for the precious metal.
In the last session of the week, spot gold fluctuated in a fairly wide range, from 4,021 to 4,138 USD/ounce. Although still maintaining the important psychological zone of 4,000 USD/ounce, gold prices could not overcome the strong resistance zone around 4,180-4,200 USD/ounce.
The market is currently affected by mixed signals from the US economy. The number of new jobs in June was significantly lower than expected, while data from previous months was also adjusted downwards. This development increased expectations that the Fed may be more cautious about continuing to raise interest rates.
However, inflation concerns have not completely subsided, while US 10-year term bond yields remain high, continuing to increase the opportunity cost of holding gold.
Next week, investors' attention will focus on the consumer price index (CPI), producer price index (PPI), retail sales and speeches by Fed Chairman Kevin Warsh before the US Congress.
A lower-than-forecast CPI report could reduce pressure on real yields, thereby supporting gold to retest the 4,180-4,200 USD/ounce range. Conversely, if inflation persists or oil prices rise sharply again, the prospect of maintaining tight monetary policy could put more pressure on gold prices.
Risks in the Strait of Hormuz are also being closely monitored. Transportation has not been completely disrupted, but the risk to commercial ships and the possibility of disrupting energy flow are still present. This development has a two-way impact: safe-haven demand may support gold, but rising oil prices also increase inflationary pressure and push yields up.
In the long term, demand from central banks continues to be seen as an important support. The Bank of Poland is maintaining a strategy of increasing reserves during price adjustments. Recent international surveys also show that many central banks plan to continue to increase their gold holdings, thereby contributing to strengthening the long-term support zone of the market.
Technically, the 4,021 USD/ounce zone is a near support threshold. If this mark is lost, gold prices may be under pressure to retreat to 3,942 USD/ounce. On the upside, a sustainable overshoot of 4,138 USD/ounce will open up opportunities towards the 4,180-4,203 USD/ounce zone.
Gold price data is compared to the previous day.
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