Updated SJC gold price
As of 9:15 a.m., DOJI Group listed the price of SJC gold bars at 124-125 million VND/tael (buy in - sell out), an increase of 300,000 VND/tael in both directions. The difference between buying and selling prices is at 1 million VND/tael.
Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 124-125 million VND/tael (buy - sell), an increase of 300,000 VND/tael in both directions. The difference between buying and selling prices is at 1 million VND/tael.
Phu Quy Jewelry Group listed the price of SJC gold bars at 123-125 million VND/tael (buy - sell), an increase of 300,000 VND/tael in both directions. The difference between buying and selling prices is at 2 million VND/tael.
9999 round gold ring price
As of 9:45 a.m., DOJI Group listed the price of gold rings at 117-120 million VND/tael (buy in - sell out), an increase of 200,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 117.2-120.2 million VND/tael (buy - sell), an increase of 200,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.
Phu Quy Gold and Stone Group listed the price of gold rings at 116.5-119 seven million VND/tael (buy in - sell out), an increase of 100,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.
The buying-selling gap is pushed up too high, increasing the risk for individual investors. Personal investors, especially those with a "surfing" mentality, need to consider carefully before putting money down.
World gold price
At 9:21, the world gold price was listed around 3,331.9 USD/ounce, down 10 USD compared to a day ago.
Gold price forecast
World gold prices fell as profit-taking activities appeared before the annual meeting of a major central bank in the western United States at the weekend.
The annual economic policy conference hosted by the Kansas Federal Reserve will begin on Thursday evening in Jackson Hole, Wyoming. Federal Reserve Chairman Jerome Powell is expected to announce a new Fed policy framework.
Mr. Powell's speech could give the market a new signal about how much support for a US interest rate cut in September. Currently, FED officials are divided about when to resume the interest rate cutting cycle. In addition, the minutes of the July FOMC meeting will also be released on Wednesday afternoon.
Rhona OConnell, Head of EMEA & Asia Market Analysis at StoneX, raised the average yearly gold price forecast to $3,115/ounce, up slightly by 1% from the previous estimate of $3,078.
OConnell noted that gold has only fluctuated within a 2% range over the past week and around 8% over the past three months.
In the third quarter, O'Connell forecasts gold prices will average around $3,320/ounce. However, she said that in the last three months of the year, prices will only average about $3,000/ounce.
I believe that, without the Black Rift event or serious humanitarian incidents, the peak (recorded domestically on 3,500.1 USD in the early morning of April 22 in London) would have been set.
Another reason I think the price peak has formed is because the reaction range of spot gold prices to the Fed's moves is decreasing, which also shows that the market is saturated, she said in an interview.
Note: Gold price data is compared to a day earlier.
See more news related to gold prices HERE...
