SJC gold bar price
As of 8:55 am, Phu Quy listed SJC gold bar prices at the threshold of 139.7-14.2.7 million VND/tael (buying - selling), down 2.1 million VND/tael in both buying and selling directions. 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 139.7-14.2.7 million VND/tael (buying - selling), down 2.1 million VND/tael in both buying and selling directions. The difference between buying and selling was at 3 million VND/tael.
SJC gold bar price was listed by Bao Tin Minh Chau at the threshold of 140.2-144.1 million VND/tael (buying - selling), down 1.6 million VND/tael in both buying and selling directions. The buying - selling difference is at 3.9 million VND/tael.
9999 gold ring price
As of 8:55 am, Phu Quy Gold and Gems Group listed the price of gold rings at the threshold of 139.7-14.2.7 million VND/tael (buying - selling), down 2.1 million VND/tael in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.
DOJI Group listed the price of gold rings at the threshold of 140.5-144.5 million VND/tael (buying - selling), down 1.1 million VND/tael in both buying and selling directions. The buying - selling difference is at 4 million VND/tael.
The price of gold rings was listed by Bao Tin Minh Chau at the threshold of 140.2-144.1 million VND/tael (buying - selling), down 1.6 million VND/tael in both buying and selling directions. The buying - selling difference is at 3.9 million VND/tael.
World gold price
At 8:50 am, world gold prices were listed around the threshold of 4,353.1 USD/ounce, down 47.6 USD.
Gold price forecast
The world gold market is under adjustment pressure as global bond yields remain high, while technology and semiconductor stocks continue to weaken.
Major pressure on gold currently comes from the US bond yield level still being high. The yield of 10-year US government bonds fluctuates around 4.7%, while the yield of 30-year bonds is still close to the highest level since 2007. This increases the opportunity cost of holding gold - an unprofitable asset.
In the opposite direction, the weakening USD and some recent negative US economic data are creating certain support for the precious metal. Weak retail sales, cooling inflation and consumer sentiment decline have caused markets to reduce expectations that the US Federal Reserve (Fed) will raise interest rates in September. Investors are currently focusing on the minutes of the Fed's July meeting, the number of unemployment claims and preliminary PMI indices to assess the direction of monetary policy.
The geopolitical factor in the Strait of Hormuz is still a noteworthy variable. Although traffic through this area is maintained, maritime security risks still keep oil prices high. Brent fluctuates around 91 USD/barrel, while WTI is nearly 85 USD/barrel. High energy prices may increase inflation concerns, thereby keeping bond yields at a high level and limiting gold's recovery momentum.
Technically, the 4,333 USD/ounce zone is a near support for gold. If this mark is broken, the price may fall back to 4,262 USD, or even 4,205 USD/ounce. On the upside, gold needs to surpass 4,448 USD/ounce to improve the short-term trend; the next resistance zones are around 4,518 USD and 4,596 USD/ounce.
In the short term, gold prices are forecast to continue to struggle between safe-haven demand and pressure from high yields. Fed policy developments, oil prices and the situation in the Strait of Hormuz will be important factors dominating the market's next direction.
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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