SJC gold bar price
As of 9:55 am, SJC gold bar prices were listed by DOJI Group at the threshold of 162-165 million VND/tael (buying - selling), unchanged in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.
Bao Tin Minh Chau listed at the threshold of 162-165 million VND/tael (buying - selling), going sideways in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.
Phu Quy Jewelry Group listed SJC gold bar prices at the threshold of 162-165 million VND/tael (buying - selling), unchanged in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.
9999 gold ring price
As of 9:55 am, DOJI Group listed gold ring prices at the threshold of 162-165 million VND/tael (buying - selling), unchanged in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.
Bao Tin Minh Chau listed at the threshold of 162-165 million VND/tael (buying - selling), going sideways in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.
Phu Quy Gold and Gems Group listed gold ring prices at the threshold of 162-165 million VND/tael (buying - selling), unchanged in both buying and selling directions. The difference between buying and selling prices is at the threshold of 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 9:55 AM, world gold prices were listed around the threshold of 4,686.2 USD/ounce, down 5.6 USD compared to the previous day.
Gold price forecast
Inflation pressure continues to weigh on the precious metals market as world gold prices extend their downward streak for the second consecutive session, falling back to around the threshold of 4,680 USD/ounce. Analysts believe that a series of inflation data hotter than expected in the US is making the expectation that the US Federal Reserve (Fed) will soon cut interest rates almost erased.
The US Department of Labor has just announced that the consumer price index (CPI) in April increased by 3.8% compared to the same period last year - the highest level since May 2023. Next, the producer price index (PPI) increased more strongly than forecast, recording the largest monthly increase since the beginning of 2022. The escalation of energy prices due to the conflict related to Iran continues to be a factor driving inflation.
According to CME Group's FedWatch tool, the market is now almost no longer betting on the possibility of the Fed reducing interest rates this year. Even after PPI data, the probability of the Fed raising interest rates has increased significantly.
This development is detrimental to gold because high interest rates increase the opportunity cost of holding non-performing assets such as precious metals. The strengthening USD along with the US Treasury bond yield hovering around the 4.5% zone also puts more pressure on gold prices.
However, many experts believe that gold still maintains a long-term support base. Mr. Fawad Razaqzada - market analyst at FOREX. com - said that high inflation and rising yields are putting short-term pressure on gold, but in the long term it may support the precious metal.
In the short term, this is a negative factor for gold, but in the long term it is positive because inflation hedging demand will increase," he told Kitco News.
This expert also warned that the US economy is at risk of falling into a "stagflation" environment - slow growth but high inflation. According to him, energy price increases due to tensions in the Middle East no longer only affect oil but are spreading to the service sector and other cost groups in the economy.
In addition to inflation, investors are also following US President Donald Trump's visit to China to find new signals related to US-China trade relations. Meanwhile, tensions in the Strait of Hormuz continue to cause oil prices to remain above the high threshold, thereby maintaining large inflationary pressure.
Although gold is facing many short-term resistance, some major financial institutions still maintain a positive view of long-term prospects. Goldman Sachs forecasts gold prices could rise to $5,400/ounce by the end of the year, while JPMorgan expects the precious metal to reach $6,300/ounce thanks to stable buying demand from central banks and the trend of diversifying foreign exchange reserves.
Gold price data is compared to the previous day.
See more news related to gold prices HERE...
