SJC gold bar price
As of 9:15 am, Phu Quy Jewelry Group listed SJC gold bar prices at the threshold of 144.7-148.2 million VND/tael (buying - selling), down 300,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3.5 million VND/tael.
At the same time, SJC gold bar prices were listed by DOJI Group at the threshold of 145.2-148.2 million VND/tael (buying - selling), down 300,000 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 the threshold of 143.5-147.5 million VND/tael (buying - selling), unchanged in both directions. The difference between buying and selling prices is at the threshold of 4 million VND/tael.
9999 gold ring price
As of 9:15 am, Phu Quy Gold and Gems Group listed the price of gold rings at the threshold of 143.5-147 million VND/tael (buying - selling), down 500,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3.5 million VND/tael.
DOJI Group listed gold ring prices at the threshold of 143.2-147.2 million VND/tael (buying - selling), down 300,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 4 million VND/tael.
Bao Tin Minh Chau listed gold ring prices at the threshold of 143.5-147.5 million VND/tael (buying - selling), unchanged in both directions. The difference between buying and selling prices is at the threshold of 4 million VND/tael.
World gold price
At 9:30 a.m., the world gold price was listed at around 4,031.6 USD/ounce, down slightly by 0.8 USD/ounce.
Gold price forecast
Gold prices are being supported by the weakening of the USD and US bond yields after the latest inflation reports were lower than expected. However, the upward momentum is still quite cautious as the market simultaneously faces the risk of oil price escalation and the tough inflation control stance of the US Federal Reserve (Fed).
The US consumer price index fell 0.4% in June, while core inflation did not increase compared to the previous month. The production price report then continued to reinforce the cooling signal, with finished goods prices falling 0.3%. These data caused the USD and bond yields to fall, thereby reducing pressure on gold – an uninterest-bearing asset.
However, the increase of precious metals is not really solid. In the most recent trading session, gold prices increased modestly in the context of the USD index falling more sharply. This development shows that direct buying power on the gold market is still not strong enough, part of the increase mainly comes from the exchange rate impact of the greenback.
Speaking before the US Congress, Fed Chairman Kevin Warsh continued to emphasize the priority of price stability and affirmed that the agency does not accept prolonged high inflation. The above message made the expectation that the Fed would tighten policy in September not completely eliminated, although consumer price and producer price data have cooled down.
Another obstacle is that oil prices remain high due to tensions around the Strait of Hormuz. The risk of disruption of energy transportation may boost safe-haven demand for gold, but at the same time also increases concerns about inflation, pulling bond yields back up and limiting the upward room for precious metals.
Technically, the 4,000 USD/ounce zone continues to be an important psychological threshold. If this zone is maintained and the area of 4,077-1,104 USD/ounce is surpassed, gold prices may rise to 4,138 USD, and further to 4,200 USD/ounce. Conversely, if it falls below 3,983 USD, selling pressure may push prices back to the 3,950-3,942 USD/ounce zone.
In the short term, gold prices are likely to continue to struggle strongly between cooling inflation signals and rising energy price risks. Investors need to be cautious in the face of fluctuations in the USD, bond yields and transportation through the Strait of Hormuz.
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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