SJC gold bar price
As of 9:00 AM, Phu Quy Jewelry Group listed SJC gold bar prices at 137-141 million VND/tael (buying - selling), down 2.2 million VND/tael in both directions. The buying - selling difference is at 4 million VND/tael.
At the same time, SJC gold bar prices were listed by DOJI Group at 137-141 million VND/tael (buying - selling), down 2.2 million VND/tael in both directions. The buying - selling difference was at 4 million VND/tael.
Bao Tin Minh Chau listed SJC gold bar prices at the threshold of 138.7-142.7 million VND/tael (buying - selling), down 1.2 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 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 137-141 million VND/tael (buying - selling), down 2.2 million VND/tael in both directions. The buying - selling difference is at 4 million VND/tael.
DOJI Group listed gold ring prices at the threshold of 137.5-141.5 million VND/tael (buying - selling), down 1.5 million VND/tael in both directions. The difference between buying and selling prices is at the threshold of 4 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at the threshold of 138.7-142.7 million VND/tael (buying - selling), down 1.2 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 4 million VND/tael.
World gold price
At 9:00 AM, world gold prices were listed around the threshold of 4,041.7 USD/ounce, down 46.6 USD/ounce.
Gold price forecast
Gold prices are forecast to continue to struggle in the short term as supporting and pressure factors are still intertwined. The precious metal maintained the psychological zone of 4,000 USD/ounce, but continuously failed when advancing to the area above 4,100 USD/ounce, showing that both buyers and sellers have not created a clear advantage.
In July, gold prices only increased by about 16 USD/ounce. The modest increase margin and the candlestick pattern for the month with an opening and closing prices close to equivalent reflect the market's hesitation. However, the fact that the July bottom was higher than the April bottom is considered a noteworthy sign, showing that selling pressure is weakening as prices retreat to low levels.
The biggest pressure on gold currently comes from the USD, US Treasury bond yields and oil prices. The USD index still maintains above 101 points, while the yield of 10-year term bonds is around 4.7%. The high yield level increases the opportunity cost when holding gold, which is an asset that does not yield interest.
In addition, the decision to keep interest rates at 3.5-3.75% of the US Federal Reserve (Fed) has not created enough momentum for gold. The fact that three members support an additional 0.25-percentage point increase in interest rates shows that the risk of monetary policy further tightening still exists. Rising oil prices also increase concerns about inflation, thereby supporting bond yields and the USD.
Technically, the 4,018 USD/ounce zone is playing the closest supporting role. If it penetrates this area, gold prices may retreat to 3,995 USD/ounce, and further to about 3,960 USD/ounce. On the upside, the precious metal needs to surpass and stay above 4,101 USD/ounce before heading towards the 4,114 USD/ounce and 4,166 USD/ounce zones.
Analysts' sentiment also shows that the prospects for next week are not clear. Among 17 Wall Street experts participating in a survey by a precious metals website, 29% predicted prices would increase, 35% thought prices would decrease, and 35% predicted the market would move sideways. For individual investors, 47% expected gold to increase, 30% predicted a decrease, and 23% maintained a neutral stance.
The above figures show that the market still lacks consensus. Gold prices may continue to fluctuate widely until clearer signals appear from the US labor market, the USD, bond yields and Fed policies.
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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