SJC gold bar price
As of 10:05 am, Phu Quy listed the price of SJC gold bars at the threshold of 141.8-144.8 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.
At the same time, SJC gold bar prices were listed by DOJI at the threshold of 141.3-144.3 million VND/tael (buying - selling). The buying - selling difference was at 3 million VND/tael.
SJC gold bar price is listed by Bao Tin Minh Chau at the threshold of 141.8-145.7 million VND/tael (buying - selling). The buying - selling difference is at 3.9 million VND/tael.
9999 gold ring price
As of 10:00 AM, Phu Quy Gold and Gems Group listed the price of gold rings at the threshold of 141.8-144.8 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.
DOJI Group listed the price of gold rings at the threshold of 141.6-145.6 million VND/tael (buying - selling). The buying - selling difference is at 4 million VND/tael.
The price of gold rings is listed by Bao Tin Minh Chau at the threshold of 141.8-145.7 million VND/tael (buying - selling). The buying - selling difference is at 3.9 million VND/tael.
World gold price
At 10:10 AM, world gold prices were listed around the threshold of 4,400.7 USD/ounce.
Gold price forecast
World gold prices remain above 4,400 USD/ounce amid support from the weakening of the USD and expectations that the US Federal Reserve (Fed) may be more cautious about continuing to raise interest rates.
Recent developments in US economic data are creating mixed signals for precious metals. Lower-than-expected retail sales, cooling consumer inflation, unchanged producer price index and weakening consumer sentiment have caused markets to reduce expectations about the FED's ability to continue raising interest rates in September.
However, some data still shows that the US economy maintains resilience. The New York Business Climate Index rose to 20.6 points - the highest level in more than 4 years, while the input price index also increased sharply. Along with the upward momentum of oil prices, the yield of 10-year US government bonds has moved towards the 4.7% range.
This is a factor that makes the outlook for gold prices fluctuate. A weaker USD and expectations of less "hawkish" interest rates are beneficial for gold, but maintaining high bond yields may limit the upward momentum.
The market is currently focusing its attention on the Fed's July meeting minutes, expected to be released on August 19. Signals about interest rate viewpoints from policymakers may create significant fluctuations for the USD, bond yields and gold prices. After that, the US preliminary PMI index series will also be important data for investors to assess the health of the economy.
Besides monetary policy, developments in the Strait of Hormuz continue to strongly impact the energy market. Brent oil prices have exceeded 90 USD/barrel, while WTI oil is trading around 84.6 USD/barrel. The risk of transportation disruption may boost defense demand for gold, but high oil prices also increase concerns about inflation, thereby keeping bond yields at a high level.
Technically, the 4,447.66 USD/ounce zone is considered a noteworthy resistance level. If it sustainably surpasses this mark, gold may head towards the 4,453.68-4,571.83 USD/ounce zone. Conversely, 4,426.22 USD/ounce is a near support zone; if it is broken, the price is at risk of falling back to 4,275.62 USD/ounce, further back to 4,189.60 USD/ounce.
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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