SJC gold bar price
As of 9:25 am, Phu Quy Jewelry Group listed SJC gold bar prices at 143.3-146.8 million VND/tael (buying - selling), down 2.2 million VND/tael on the buying side and down 2.1 million VND/tael on the selling side. The difference between buying and selling prices is at 3.5 million VND/tael.
At the same time, SJC gold bar prices were listed by DOJI Group at the threshold of 143.8-146.8 million VND/tael (buying - selling), down 2.1 million VND/tael in both directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.
Bao Tin Minh Chau listed SJC gold bar prices at 142-146 million VND/tael (buying - selling), down 2 million VND/tael in both directions. The difference between buying and selling prices is at 4 million VND/tael.
9999 gold ring price
As of 9:25 am, Phu Quy Gold and Gems Group listed the price of gold rings at 142.5-146 million VND/tael (buying - selling), down 2 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3.5 million VND/tael.
DOJI Group listed gold ring prices at 143-146.5 million VND/tael (buying - selling), down 1 million VND/tael on the buying side and down 1.5 million VND/tael on the selling side. The difference between buying and selling prices is at 3.5 million VND/tael.
Bao Tin Minh Chau listed gold ring prices at 142-146 million VND/tael (buying - selling), down 2 million VND/tael in both directions. The difference between buying and selling prices is at 4 million VND/tael.
World gold price
At 9:30 am, world gold prices were listed around the threshold of 4,016 USD/ounce, down 54.5 USD/ounce.
Gold price forecast
Gold prices are under strong downward pressure as tensions between the US and Iran around themuz Strait cause oil prices to rise, US bond yields to rise and the USD to strengthen. Although geopolitical instability often supports safe-haven demand, the market is currently more focused on the risk of prolonged energy inflation, thereby causing the Fed to maintain tight monetary policy for longer.
Rising oil prices put production and transportation costs at risk of escalating, causing inflation expectations to return. In that context, the yield of 10-year US Treasury bonds has approached the 4.58% range, while the yield of 2-year bonds has exceeded 4.2%. The opportunity cost of holding gold has therefore increased, limiting new cash flow into precious metals.
The US June jobs report showed that the number of new jobs increased by 57,000, while the unemployment rate remained at 4.2%. Labor data was not too strong, which once helped the market expect the Fed to be more cautious. However, the minutes of the Fed's most recent meeting along with the upward momentum of oil prices have brought inflation risk back to the focus. The market currently leans towards the possibility that US interest rates will continue to be adjusted upwards in the coming months.
In the short term, investors will monitor the US consumer price index, the Fed Chairman's speech to Congress and transport developments through the Strait of Hormuz. Lower-than-expected inflation figures could help cool down yields, creating conditions for gold to recover. Conversely, if oil prices continue to rise sharply or maritime activities are disrupted, inflationary pressure and the USD may continue to restrain gold prices.
Technically, gold prices are below the short-term moving average of around 4,107 USD/ounce, showing that sellers still prevail. The 4,000 USD/ounce zone is considered an important support threshold. If this mark is broken, the price may fall back to 3,959-3,942 USD/ounce. In the opposite direction, gold needs to exceed 4,091 USD/ounce, then 4,107 USD/ounce to improve the trend.
Although the outlook for the second half of the year is still volatile, some financial institutions still positively assess gold in the long term. High gold prices are helping mining businesses strongly improve cash flow, reduce debt and raise profit margins. However, the diễn biến of precious metals in the coming time still largely depends on Fed policy, inflation and the situation in the Strait of Hormuz.
Gold price data is compared to the previous day.
See more news related to gold prices HERE...
