Updated SJC gold price
As of 9:15 a.m., the price of SJC gold bars was listed by DOJI Group at 130-132 million VND/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling prices is at 2 million VND/tael.
Bao Tin Minh Chau listed the price of SJC gold bars at 130-132 million VND/tael (buy - sell), unchanged in both directions. The difference between buying and selling prices is at 2 million VND/tael.
Phu Quy Gold and Stone Group listed the price of SJC gold bars at 129.3-132 million VND/tael (buy - sell), down 200,000 VND/tael for buying and kept the same for selling. The difference between buying and selling prices is at 2.7 million VND/tael.
9999 round gold ring price
As of 9:15 a.m., DOJI Group listed the price of gold rings at 126.3-129.3 million VND/tael (buy - sell), down 500,000 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 127-130 million VND/tael (buy - sell), down 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 126.5-129.5 million VND/tael (buy in - sell out), down 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 9:10 a.m., the world gold price was listed around 3,642.1 USD/ounce, down 19.4 USD.
Gold price forecast
According to Quyuyy Christopher Lewis, a metal analyst, gold is still attracting buying momentum as prices have fallen following the interest rate cut by the US Federal Reserve (FED). The technical picture still supports the uptrend, despite the fluctuations caused by central banks this week.
The gold market has created a bearish space at the opening of the trading session on Thursday, due to a slight profit-taking. I think the market has been very positive for a long time, so a slight correction is necessary, Lewis said.
He added: The Fed meeting has ended and initially seemed like the Fed would be tougher than expected, or at least tend to tighten. But now, the market is starting to adjust. And as usual, the first reaction of the market after the Fed's decision may not be accurate.
Lewis stressed that gold is still in a strong long-term uptrend: I think any correction at this point is a buying opportunity, with support around $3,650 and $3,600/ounce.
He predicted that the bullish target could be towards $3,800/ounce based on the previously broken trigon shift model, but it will take time to achieve.
I do not intend to sell fake gold. The market has been in a state of price increase for too long. Furthermore, central banks, especially the Fed, continuing to cut interest rates supports the idea of gold to increase higher.
Not to mention that central banks around the world continue to hoard gold and the geopolitical situation is still quite tense, which is also beneficial for gold - Lewis affirmed.
Sharing the same view, Jim Wyckoff - senior analyst at Kitco commented that both gold and silver had a good increase before, so the downward correction is predictable and could continue for a while. However, December gold buyers still have a solid advantage.
"Gold and silver prices fell sharply as the market saw strong profit-taking from short-term contract investors after the FOMC meeting and after gold set a new record, silver hit a 14-year high on Tuesday.
Both markets have had good up momentum before, so the downward adjustment is predicted and may continue for a while.
However, technically, December gold futures are still giving buyers a solid near-term advantage. The next upside target for buyers is to close above the strong resistance level of $3,800/ounce. In contrast, the short-term bearish target for the bears is to pull prices below the important technical support level of $3,600/ounce.
The first resistance level was seen at 3,700 USD/ounce and then at 3,715 USD/ounce. The first support level at today's bottom is $3,660.5 an ounce, then $3,650 an ounce," said Jim Wyckoff.
Note: Gold price data is compared to a day earlier.
See more news related to gold prices HERE...
