SJC gold bar price
As of 9:05 am, Phu Quy listed SJC gold bar prices at the threshold of 141-144 million VND/tael (buying - selling), an increase of 700,000 VND/tael in both buying and selling directions. The difference between buying and selling is at 3 million VND/tael.
At the same time, SJC gold bar prices were listed by DOJI at the threshold of 141-144 million VND/tael (buying - selling), an increase of 700,000 VND/tael in both buying and selling directions. The difference between buying and selling was at 3 million VND/tael.
SJC gold bar price was listed by Bao Tin Minh Chau at the threshold of 140.7-144.7 million VND/tael (buying - selling), an increase of 500,000 VND/tael in both buying and selling directions. The buying - selling difference is at 4 million VND/tael.
9999 gold ring price
As of 9:00 AM, Phu Quy Gold and Gems Group listed the price of gold rings at 141-144 million VND/tael (buying - selling), an increase of 700,000 VND/tael in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.
DOJI Group listed the price of gold rings at the threshold of 140.5-144.5 million VND/tael (buying - selling), an increase of 500,000 VND/tael in both buying and selling directions. The buying - selling difference is at 4 million VND/tael.
The price of gold rings is listed by Bao Tin Minh Chau at the threshold of 140.7-144.7 million VND/tael (buying - selling), an increase of 500,000 VND/tael in both buying and selling directions. The difference between buying and selling is at 4 million VND/tael.
World gold price
At 9:50 am, world gold prices were listed around the threshold of 4,375.6 USD/ounce, up 59 USD/ounce.
Gold price forecast
Gold prices are receiving support as the USD weakens and expectations that the US Federal Reserve (Fed) will continue to raise interest rates in September fall. However, the developments of US bond yields and oil prices may still cause the precious metals market to fluctuate sharply in the short term.
Newly released US economic data is increasing concerns about growth momentum. July retail sales fell 0.6%, contrary to a forecast increase of 0.1%. The preliminary consumer sentiment index for August of the University of Michigan also fell from 55.2 to 51 points.
Along with cooling consumer inflation data and the production price index not increasing sharply, the above data caused the market to adjust expectations for monetary policy. The probability of the Fed raising interest rates at the September meeting was valued by the market at around 29%, lower than the previous level of about 34%.
The expectation that interest rates will be less rigid puts pressure on the USD, thereby supporting gold - an asset valued in the greenback and not providing a fixed yield. However, the yield of 10-year US government bonds still remains around 4.7%, partly limiting the upward momentum of the precious metal.
Another factor closely watched by investors is tensions related to the Strait of Hormuz. Instability in this region is increasing risks to global energy supply. Brent oil prices are maintained around 88 USD/barrel, while WTI oil is in the 82-83 USD/barrel range.
High oil prices can increase inflation expectations and make it difficult for bond yields to fall deeply. This creates a two-way impact on gold: geopolitical instability and defensive demand supporting prices, but the risk of prolonged inflation may make monetary policy more cautious.
Technically, the 4,416.82 USD/ounce zone is a noteworthy resistance level. If it surpasses and maintains above this zone, gold prices may head towards 4,481.78 USD/ounce, and further to 4,503.19 USD/ounce.
In the opposite direction, 4.311.04 USD/ounce is the near support zone. If this level is lost, adjustment pressure may pull the price down to 4,195.96 USD/ounce, even 4,136.05 USD/ounce.
In the near future, the market will pay special attention to the US August jobs and inflation reports before the Fed's September meeting. These are considered data that may decide the next direction of gold prices.
Gold price data is compared to the previous day.
The information in the article is for reference only, reflecting market developments at the time of recording and not an investment recommendation. Investors need to carefully consider their financial capacity, personal goals and related risks before making a decision to buy or sell gold.
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