SJC Gold Bar Price
At the end of the trading session, DOJI Group listed the SJC gold price at 74.98 - 76.98 million VND/tael (buy - sell).
Compared to the beginning of the previous trading session, the gold price at DOJI remained unchanged in both buying and selling directions.
The difference between the buying and selling prices of SJC gold at DOJI is 2 million VND/tael.
Meanwhile, Saigon Jewelry Company SJC listed the SJC gold price at 74.98 - 76.98 million VND/tael (buy - sell).
Compared to the beginning of the previous trading session, the gold price at Saigon Jewelry Company SJC remained unchanged in both buying and selling directions.
The difference between the buying and selling prices of SJC gold at Saigon Jewelry Company SJC is 2 million VND/tael.
Currently, the difference between the buying and selling prices of gold is listed around 2 million VND/tael. Experts believe that this high difference poses a risk of loss for short-term investors.
9999 Gold Ring Price
As of 9:00 AM, the price of 9999 round gold rings at DOJI Group is listed at 75.90-77.15 million VND/tael (buy - sell). Compared to the beginning of the previous trading session, DOJI Group decreased by 250,000 VND/tael in both buying and selling directions.
Saigon Jewelry Company listed the price of gold rings at 75.15-76.65 million VND/tael (buy - sell). Compared to the beginning of the previous trading session, Saigon Jewelry Company SJC increased by 50,000 VND/tael in the buying direction and decreased by 50,000 VND/tael in the selling direction.
Bao Tin Minh Chau listed the price of gold rings at 75.68-76.98 million VND/tael (buy - sell). Compared to the beginning of the previous trading session, Bao Tin Minh Chau decreased by 200,000 VND/tael in both buying and selling directions.
World Gold Price
As of 9:00 AM, the world gold price listed on Kitco is at 2,410.6 USD/ounce, an increase of 3.5 USD/ounce compared to the beginning of the previous trading session.
Gold Price Forecast
The world gold price turned to increase as the USD index decreased. As recorded at 9:00 AM on July 13, the US Dollar Index, which measures the fluctuation of the greenback against six major currencies, was at 103.770 points (down 0.35%).
The gold price remains high as the US Producer Price Index (PPI) report released yesterday showed a slight increase in June, confirming that inflation has continued its downward trend.
Previously, the US Consumer Price Index (CPI) report unexpectedly decreased in June, supporting the rise in precious metals as investors expect the US Federal Reserve (FED) to cut interest rates from September.
According to the World Gold Council (WGC), inflows into gold exchange-traded funds increased for the second consecutive month in June, with participation from funds listed in Europe and Asia.
Meanwhile, about 20 central banks still expect to increase their gold holdings next year due to rising financial and geopolitical risks.
Jason Schenker, President of Prestige Economics, told MarketWatch that the possibility of the FED cutting interest rates in the future and a weak USD could push gold prices higher. Inflation, geopolitical risks, and a weak USD are poised to drive gold prices higher.
Speaking to CNBC, Jim Wyckoff, senior market analyst at Kitco Metals, said the market is witnessing some profit-taking pressure after a strong gold rally. However, considering the reaction of the stock and bond markets, the PPI data does not overshadow the cooling inflation report we saw on July 11.
Therefore, it is highly likely that interest rates will decrease this year, possibly as early as September. Typically, lower interest rates will boost gold prices...
