SJC gold bar price
As of 9:10 am, Phu Quy Jewelry Group listed SJC gold bar prices at 144-147.5 million VND/tael (buying - selling), an increase of 1 million VND/tael on the buying side and an increase of 900,000 VND/tael on the selling side. The difference between buying and selling prices is at 3.5 million VND/tael.
At the same time, SJC gold bar prices were listed by DOJI Group at the threshold of 144.5-147.5 million VND/tael (buying - selling), an increase of 900,000 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 142.6-146.6 million VND/tael (buying - selling), down 900,000 VND/tael 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 143-146.5 million VND/tael (buying - selling), an increase of 1 million VND/tael on the buying side and an increase of 900,000 VND/tael on the selling side. The difference between buying and selling prices is at 3.5 million VND/tael.
DOJI Group listed gold ring prices at the threshold of 143.3-147.3 million VND/tael (buying - selling), an increase of 700,000 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 142.6-146.6 million VND/tael (buying - selling), down 900,000 VND/tael in both directions. The difference between buying and selling prices is at the threshold of 4 million VND/tael.
World gold price
At 9:10 am, world gold prices were listed around the threshold of 4,017.3 USD/ounce, up 37.4 USD/ounce.
Gold price forecast
World gold prices reversed to increase in the last trading session of the week, returning above the psychological milestone of 4,000 USD/ounce. However, analysts believe that this recovery mainly stems from buy-and-sell status compensation after the previous sharp decline session, which is not enough to confirm a sustainable upward trend.
Spot gold at one point fell to nearly $3,960/ounce, then recovered and ended the session around $4,007/ounce. Despite rising nearly 1% in the last session of the week, the precious metal still decreased by about 2.5% compared to the beginning of the week, showing that adjustment pressure has not completely ended.
US economic data is sending mixed signals. The consumer price index (CPI) and producer price index (PPI) in June cooled down, contributing to reducing concerns about inflation. However, retail sales, unemployment claims and manufacturing activity in the Philadelphia area were more positive than forecast, reflecting that the US economy and labor market still maintained resilience.
The preliminary consumer confidence index of the University of Michigan increased from 49.5 to 54.4 points, while one-year inflation expectations fell from 4.6% to 4.2%. These data helped stabilize gold prices, but were not enough to eliminate interest rate risks from the US Federal Reserve (Fed).
The yield on 10-year US government bonds is still around 4.53%, while the USD remains high. These are two factors that may limit the attractiveness of gold, because the precious metal does not yield yields and becomes more expensive for investors using other currencies.
Tensions in the Strait of Hormuz continue to create two-way impacts. Geopolitical risks may boost safe-haven demand, but West Texas Intermediate (WTI) crude oil prices exceeding 81 USD/barrel and Brent oil approaching 87 USD/barrel are increasing the risk of inflation. This could cause the Fed to maintain a more cautious monetary policy for longer, thereby putting pressure on gold.
Technically, the 4, 023-4, 024 USD/ounce zone is a near resistance level. If it surpasses and maintains above this zone, gold prices may head towards 4, 054 USD/ounce. Conversely, falling below 3, 969 USD/ounce may pull prices back to the support zone of 3, 950 USD/ounce, or even lower.
Investors next week need to monitor Fed officials' statements, bond yield developments, the USD, oil prices and transportation through the Strait of Hormuz. The article provides only reference information, not investment recommendations.
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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