Updated SJC gold price
As of 9:25, the price of SJC gold bars was listed by Saigon Jewelry Company at VND89.7-92 million/tael (buy - sell); an increase of VND1.4 million/tael for buying and an increase of VND1.2 million/tael for selling.
The difference between the buying and selling prices of SJC gold at Saigon Jewelry Company SJC is at 2.3 million VND/tael.
Meanwhile, the price of SJC gold bars was listed by DOJI Group at VND89.7-92 million/tael (buy - sell); an increase of VND1.4 million/tael for buying and an increase of VND1.2 million/tael for selling.
The difference between the buying and selling prices of SJC gold at DOJI Group is at 2.3 million VND/tael.
At the same time, Bao Tin Minh Chau listed the price of SJC gold bars at 89.4-91.7 million VND/tael (buy - sell); increased by 1.1 million VND/tael for buying and increased by 900,000 VND/tael for selling.
The difference between buying and selling SJC gold at Bao Tin Minh Chau is at 2.3 million VND/tael.
9999 round gold ring price
As of 9:25 a.m. today, the price of Hung Thinh Vuong 9999 round gold rings at DOJI was listed at 90.5-92 million VND/tael (buy - sell); an increase of 1.4 million VND/tael for buying and an increase of 1.2 million VND/tael for selling compared to early this morning.
The difference between buying and selling is at 1.5 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 90.2-91.7 million VND/tael (buy - sell), an increase of 950,000 VND/tael for buying and an increase of 900,000 VND/tael for selling compared to early this morning.
The difference between buying and selling is at 1.5 million VND/tael.
World gold price
As of 9:30 a.m., the world gold price listed on Kitco was at 2,936.1 USD/ounce, up 38.2 USD/ounce compared to the beginning of the previous trading session.
Gold price forecast
World gold prices increased in the context of the USD decreasing. Recorded at 9:30 a.m. on February 19, the US Dollar Index measuring the fluctuations of the greenback against 6 major currencies was at 106.915 points (down 0.02%).
The gold market has largely recovered after a strong sell-off last Friday. Although the precious metal is expected to continue to fluctuate in the short term, an investment firm believes that the long-term uptrend of gold will remain firm.
In the latest research report, Adam turnquist - chief technical strategist at LPL Financial - said that in the short term, gold is in a state of overbought conditions and is vulnerable to new selling pressure, which could push prices to support level near 2,800 USD/ounce. However, in the long term, even if the gold price reaches 3,000 USD/ounce, this precious metal is still quite cheap.
According to Kitco - gold prices have been held back, but this is about to end when supply is scarce, gold flow is out of London and the US can revise gold prices.
Andy Schectman - Chairman of Miles Franklin Precious Metals said that one of the most worrying problems of the current gold market is the increasing difficulty in finding physical gold buyers. "It's taking the LBMA six to eight weeks to deliver gold now - in essence, it's almost a form of bankruptcy," he said.
In China, some major banks have announced that they are out of gold products due to strong demand. In South Korea, the country's foundry has temporarily stopped selling gold bars due to tight supply.
Schectman also pointed out that the world's largest gold ETF - SPDR Gold Trust (GLD) has just had 16 tons of gold withdrawn. He said this could be a sign that institutional investors are withdrawing physical gold from the fund, reflecting a loss of confidence in the "paper gold" market.
Looking at the current situation, Schectman shared: "I felt like something big was happening. In my 35 years in this industry, I have never seen anything like that."
With market fluctuations, the question is whether the US will re-evaluate its gold reserves or will have new policies to deal with the growing influence of the BRICS bloc.
"All of this shows a possibility: gold prices could be revalued in the US Treasury Department's gold account," Schectman said.
See more news related to gold prices HERE...
