SJC gold bar price
As of 9:30 am, Phu Quy listed SJC gold bar prices at the threshold of 143.5-146.5 million VND/tael (buying - selling), an increase of 3.8 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 143.5-146.5 million VND/tael (buying - selling), an increase of 3.8 million VND/tael in both buying and selling directions. The buying - selling difference was at 3 million VND/tael.
SJC gold bar price was listed by Bao Tin Minh Chau at the threshold of 143.7-147.7 million VND/tael (buying - selling), an increase of 3.5 million VND/tael on the buying side and an increase of 3.6 million VND/tael on the selling side. The buying - selling difference is at 4 million VND/tael.
9999 gold ring price
As of 9:30 am, Phu Quy Gold and Gems Group listed the price of gold rings at the threshold of 143.5-146.5 million VND/tael (buying - selling), an increase of 3.8 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 143.5-147.5 million VND/tael (buying - selling), an increase of 3 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 143.7-147.7 million VND/tael (buying - selling), an increase of 3.5 million VND/tael on the buying side and an increase of 3.6 million VND/tael on the selling side. The buying - selling difference is at 4 million VND/tael.
World gold price
At 9:30 am, world gold prices were listed around the threshold of 4, 490.5 USD/ounce, up 137.4 USD.
Gold price forecast
Gold prices are receiving significant support as US bond yields fall and the USD weakens. In the most recent trading session, the precious metal at one point exceeded 4,500 USD/ounce, showing strong buying power after the price broke through a series of important resistance zones.
The main driver of this increase came from the US bond market. The US Treasury Department decided to increase long-term bond repurchases, thereby pushing bond prices up and pulling yields down. The yield of 10-year US Treasury bonds retreated to the 4.6% range, while the 30-year term fell to about 5.2%. At the same time, the USD index fell sharply, creating a favorable environment for gold.
Notably, the upward momentum of gold is maintained in the context of the minutes of the most recent meeting of the US Federal Reserve (Fed) showing that some officials are still concerned about inflation. At the July meeting, the Fed voted 9-3 to keep interest rates in the range of 3.50-3.75%. Some members supported the option of raising interest rates by another 25 basis points.
The market is currently continuing to closely monitor US economic data, especially the number of unemployment claims, the Philadelphia Fed's manufacturing index and preliminary PMI indices. These figures may directly affect monetary policy expectations and the next trend of the USD, bond yields as well as gold prices.
Technically, gold prices exceeding the 4,448 USD/ounce and 4,480-4,500 USD/ounce zones are strengthening the buyer's advantage. In the short term, the 4,630-4,650 USD/ounce zone is considered a noteworthy resistance area. If it sustainably exceeds this area, gold prices may head towards 4,700 USD/ounce, and further to about 4,778 USD/ounce.
In the opposite direction, the 4,500 USD/ounce zone is playing a near supporting role. If the price falls below 4,450 USD/ounce, adjustment pressure may increase, with the next support zones around 4,360 USD/ounce and 4,333 USD/ounce.
In addition to US monetary policy, developments in the Strait of Hormuz and high oil prices continue to be variables to monitor. Geopolitical tensions may boost safe-haven demand, but high energy prices also increase inflation risks, making the Fed's policy outlook more unpredictable.
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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