SJC gold bar price
As of 9:30 am, SJC gold bar prices were listed by DOJI Group at 144-147 million VND/tael (buying - selling), an increase of 7.6 million VND/tael on the buying side and an increase of 5.6 million VND/tael on the selling side. The difference between buying and selling prices is at 3 million VND/tael.
Bao Tin Minh Chau listed SJC gold bar prices at 144-147 million VND/tael (buying - selling), an increase of 6.2 million VND/tael in both buying directions and an increase of 4.2 million VND/tael in the selling direction.
Phu Quy Jewelry Group listed SJC gold bar prices at 144-147 million VND/tael (buying - selling), an increase of 6.1 million VND/tael on the buying side and an increase of 4.6 million VND/tael on the selling side. The difference between buying and selling prices is at 3 million VND/tael.
9999 gold ring price
As of 9:30 am, DOJI Group listed gold ring prices at 144-147 million VND/tael (buying - selling), an increase of 6 million VND/tael on the buying side and an increase of 4.5 million VND/tael on the selling side. The difference between buying and selling prices is at 3 million VND/tael.
Bao Tin Minh Chau listed gold ring prices at 144-147 million VND/tael (buying - selling), an increase of 6.2 million VND/tael in both buying directions and an increase of 4.2 million VND/tael in the selling direction. The difference between buying and selling prices is at 3 million VND/tael.
Phu Quy Jewelry Group listed the price of gold rings at 143.8-146.8 million VND/tael (buying - selling), an increase of 5.9 million VND/tael on the buying side and an increase of 4.4 million VND/tael on the selling side. The difference between buying and selling prices is at 3 million VND/tael.
Currently, the buying - selling price difference of gold is at a very high level, around 3 million VND/tael, posing a risk of losses for investors.
World gold price
At 9:17 am, world gold prices were listed around the threshold of 4,218.3 USD/ounce, up 26.4 USD compared to the previous day.
Gold price forecast
World gold prices closed the trading week in a more stable state, as pressure from the energy market somewhat cooled down. The sharp drop in oil prices amid expectations that the US-Iran could reach an agreement helped ease concerns about inflation risks from energy. At the same time, falling US Treasury bond yields and rising US stocks supported investor sentiment.
However, the outlook for the precious metal is still under great pressure from inflation data. The US consumer price index in May increased by 4.2% over the same period, while production costs increased by 6.5%.
These figures make the market continue to lean towards the possibility that the US Federal Reserve (Fed) will maintain a tight monetary policy for a longer time. A high interest rate environment increases the opportunity cost of holding gold - an unprofitable asset.
According to Kitco, although gold prices have stabilized, the technical trend is still not really positive. Spot gold needs to overcome the resistance zone of 4,194-4,250 USD/ounce to consolidate the recovery momentum. If a breakthrough is successful, the next target for buyers is the 50-day moving average around 4,446 USD/ounce.
Conversely, if losing the support zone of 4,104 USD/ounce, gold prices may face additional downward pressure to 4,023 USD/ounce, even testing the psychological level of 4,000 USD/ounce.
A noteworthy point is that inflation is now both a drag and can become a supporting factor for gold in the medium and long term. When high inflation causes interest rate expectations to increase, gold is often under short-term pressure. But if inflation increases faster than nominal interest rates, real yields may decrease. This is often a favorable environment for gold, due to the weakening attractiveness of bonds.
Analysts believe that investors need to closely monitor real yield developments, instead of just looking at nominal interest rates. In the context of the US economy facing a large budget deficit, rising public debt and persistent inflation, the Fed will face difficulties if it wants to raise interest rates too sharply. This could create a foundation to support gold prices when the market sees that monetary policy is difficult to "break" inflation.
However, the strong recovery potential of gold still needs more confirmation signals. In the short term, the 4,000 USD/ounce zone continues to be an important support level, while the 4,250 USD/ounce zone is a noteworthy barrier to the upward trend.
Gold price data is compared to the previous day.
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