SJC gold bar price
Closing the week's trading session, Saigon SJC Jewelry Company listed SJC gold prices at 141-144 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.
Compared to the closing session of last week's trading (August 9), SJC gold bar price at Saigon SJC Jewelry Company remained unchanged in both buying and selling directions.
Meanwhile, DOJI listed SJC gold price at the threshold of 141-144 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.
Compared to the closing session of last week (August 9), SJC gold bar prices at DOJI remained unchanged in both buying and selling directions.
If buying SJC gold bars on August 9th and selling them on today's session (August 16th), buyers at Saigon Jewelry Company SJC and DOJI will both lose 3 million VND/tael.
9999 gold ring price
At the same time, DOJI Group listed the price of gold rings at 141-144 million VND/tael (buying - selling), down 200,000 VND/tael on the buying side and down 1.2 million VND/tael on the selling side. The buying - selling difference is at 3 million VND/tael.
Phu Quy Gold and Gems Group listed the price of gold rings at 141-144 million VND/tael (buying - selling), unchanged in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.
If buying gold rings on August 9th and selling them today (August 16th), buyers at DOJI will lose 4.2 million VND/tael, while buyers at Phu Quy will lose 3 million VND/tael.
World gold price
Closing the weekly trading session, world gold prices were listed at 4,375.6 USD/ounce, up 34.3 USD compared to a week ago.
Gold price forecast
The outlook for gold prices next week is leaning towards a positive trend, after the precious metal maintained its recovery momentum and closed the week at a high level. However, the possibility of immediate strong increase is still not really clear as the market continues to struggle between the expectation of less tight monetary policy and pressure from long-term bond yields.
A recent market survey by a precious metals website shows that optimistic sentiment is clearly prevailing. About 90% of analysts participating predict that gold prices may continue to increase next week, while only 10% believe that prices will decrease. In the group of individual investors, 68% expect gold prices to go up, 17% predict a decrease and 15% believe that the market will enter an accumulation phase.
The driving force supporting gold currently comes from some US economic signals showing that interest rate hike pressure is decreasing. The upward momentum of consumer prices and production prices is showing signs of cooling down, while the labor market is showing less positive signals. This weakens expectations of the US Federal Reserve (Fed) continuing to raise interest rates, thereby supporting non-performing assets such as gold.
In addition, the US budget deficit and large debt scale continue to put long-term pressure on the USD. If confidence in the greenback weakens, the need to hold gold as a tool to preserve value may be strengthened.
However, the market still lacks a catalyst strong enough to form a breakthrough increase. Gold prices are currently showing signs of moving in a wide accumulation zone. If buying power continues to be maintained, the area around 4,500 USD/ounce, corresponding to the important long-term average line, may become the next noteworthy target.
In the opposite direction, the risk of correction has not disappeared. If the price cannot set a new peak and buying power weakens, gold may return to test lower support zones. Therefore, the developments next week are likely to continue to strongly depend on US economic data.
The most notable is the minutes of the Fed's July monetary policy meeting, along with production data, housing, unemployment claims and the preliminary PMI index for August. These data will help the market better assess the outlook for inflation, growth and the path of US interest rates, thereby orienting the next trend of gold prices.
Gold price data is compared to a week earlier.
See more news related to gold prices HERE...
