SJC gold bar price
As of 9:10 am, Phu Quy Jewelry Group listed SJC gold bar prices at 143-146.6 million VND/tael (buying - selling), down 1.7 million VND/tael on the buying side and down 1.6 million VND/tael on the selling side. The difference between buying and selling prices is at 3.6 million VND/tael.
At the same time, SJC gold bar prices were listed by DOJI Group at the threshold of 143.6-146.6 million VND/tael (buying - selling), down 1.6 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 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 9:10 am, Phu Quy Gold and Gems Group listed the price of gold rings at 142-145.6 million VND/tael (buying - selling), down 1.5 million VND/tael on the buying side and down 1.4 million VND/tael on the selling side. The difference between buying and selling prices is at 3.6 million VND/tael.
DOJI Group listed gold ring prices at the threshold of 142.6-146.6 million VND/tael (buying - selling), down 600,000 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 9:15 am, world gold prices were listed around the threshold of 3, 979.9 USD/ounce, down 51.7 USD/ounce.
Gold price forecast
World gold prices are under strong downward pressure after losing the important psychological support zone of 4,000 USD/ounce. At one point, the precious metal retreated to around 3,975 USD/ounce, down more than 2% in the session, amid US government bond yields and the USD rising simultaneously.
Although the latest inflation data in the US shows that price pressure is showing signs of cooling down, the market has not significantly increased expectations of monetary policy easing. The June consumer price index fell 0.4%, while the production price index fell 0.3%. However, the resilience of the US economy makes investors more cautious.
Retail sales in June increased by 0.2%, while the number of initial jobless claims fell to 208,000, the lowest level in 10 weeks. These data show that US consumption and labor markets have not weakened significantly, thereby reducing the possibility that the US Federal Reserve (Fed) will soon move to monetary easing.
The yield of 10-year US government bonds has returned to the 4.57% zone, while the USD index moved closer to 100.54 points. A strong and high-yielded USD often disadvantages gold because the precious metal does not bring a fixed yield.
The US housing market continues to send negative signals. The US National Association of Realtors (NAR) said that the pending home purchase contract index fell 5.4% in June, much stronger than the forecast decrease of 0.5%. Compared to the same period last year, this index fell 0.3%.
However, weak housing data is not enough to help gold attract safe-haven cash flow. Analysts believe that the market is still focused on the risk of interest rates remaining high, as the US economy and consumers continue to show resilience.
In addition, tensions in the Strait of Hormuz pushed oil prices up, increasing concerns about inflation returning. Geopolitical factors may support safe-haven demand, but high oil prices also make interest rate prospects unpredictable, limiting gold's recovery ability.
Technically, the 3,973-959 USD/ounce zone is playing a near supporting role. If it penetrates 3,959 USD/ounce, gold prices may retreat to 3,942 USD, and further to 3,886 USD/ounce. Conversely, gold needs to surpass 4,044 USD/ounce to improve the short-term trend, before heading towards the 4,094-4,140 USD/ounce zone.
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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