Gold price today July 12: Loss of 6.4 million VND/tael after a week

SJC gold bar price

Closing the week's trading session, Saigon SJC Jewelry Company listed SJC gold prices at the threshold of 146.9-149.9 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.

Compared to the closing session of last week (July 5), the price of SJC gold bars at Saigon SJC Jewelry Company decreased by 1.5 million VND/tael in both buying and selling directions.

Meanwhile, DOJI listed SJC gold price at the threshold of 146.9-149.9 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.

Compared to the closing session of last week (July 5), the price of SJC gold bars at DOJI decreased by 1.5 million VND/tael in both buying and selling directions.

If buying SJC gold bars on July 5th and selling them on today's session (July 12th), buyers at Saigon Jewelry Company SJC and DOJI will both lose 4.5 million VND/tael.

9999 gold ring price

At the same time, DOJI Group listed the price of gold rings at 145-149 million VND/tael (buying - selling), down 3.4 million VND/tael on the buying side and down 2.4 million VND/tael on the selling side. The buying - selling difference is at 4 million VND/tael.

Phu Quy Jewelry Group listed the price of gold rings at 145.3-148.8 million VND/tael (buying - selling), down 2.7 million VND/tael on the buying side and down 2.2 million VND/tael on the selling side. The buying - selling difference is at 3.5 million VND/tael.

If buying gold rings on July 5th and selling them on today's session (July 12th), buyers at DOJI will lose 6.4 million VND/tael, while buyers at Phu Quy will lose 5.7 million VND/tael.

World gold price

Closing the week's trading session, world gold prices were listed at 4,110.4 USD/ounce, down 54.7 USD compared to a week ago.

Gold price forecast

The outlook for gold prices next week is still unpredictable as supporting and pressing factors continue to intertwine. Survey results show that analysts and individual investors have not formed a unified view on the next direction of the precious metal.

Among the 13 Wall Street experts participating in the survey, 5 people, equivalent to 38%, predicted gold prices would increase; 3 people, accounting for 23%, thought prices would decrease. The remaining 5 experts predicted that the market was likely to continue sideways.

Cautious sentiment also appeared in the group of individual investors. Out of a total of 282 online survey participants, 42% expected gold prices to increase, 38% predicted prices to decrease, and 20% thought the market would continue to accumulate.

In the short term, gold prices are still under pressure from interest rate prospects in the US. Strong signals from the US Federal Reserve (Fed), US Treasury bond yields maintained at a high level and a stronger USD may limit the attractiveness of non-performing assets like gold. Concerns about rising inflation due to energy prices and tensions in the Middle East also make the possibility of the Fed soon easing monetary policy less certain.

StoneX believes that gold prices may continue to fluctuate around the 4,000 USD/ounce range in the second half of the year, instead of quickly returning to a strong upward trend. The market is forecast to wait for more clear signals from the Fed's monetary policy and developments related to conflicts in the Middle East, especially the situation around the Strait of Hormuz.

Although short-term prospects are still volatile, gold buying demand from central banks continues to provide significant support. The Bank of Poland said it has bought an additional 82 tons of gold since the beginning of the year, while China has maintained increased reserves for many months in a row.

According to a World Gold Council survey, 45% of central banks expect to increase their gold holdings in the next 12 months, a record high. Nearly 90% of survey participants believe that total official gold reserves globally will continue to increase.

The actual buying moves show that central banks still consider gold as a strategic asset to diversify reserves and hedge geopolitical and monetary risks. Therefore, the 4,000 USD/ounce zone may continue to play an important supporting role, although gold prices are not yet easy to establish a clear upward trend in the coming week.