SJC gold bar price
As of 9:00 AM, Saigon SJC Jewelry Company listed SJC gold bar prices at the threshold of 144.6-147.6 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.
Similarly, DOJI listed SJC gold price at the threshold of 144.6-147.6 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.
Phu Quy listed the price of SJC gold bars at the threshold of 144.6-147.6 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.
9999 gold ring price
At the same time, Saigon Jewelry Company SJC listed the price of gold rings at the threshold of 144.1 - 147.1 million VND/tael (buying - selling), unchanged compared to the previous closing session. The buying - selling difference was at 3 million VND/tael.
DOJI Group listed the price of gold rings at 144-148 million VND/tael (buying - selling). The buying - selling difference is at 4 million VND/tael.
Phu Quy Gold and Gems Group listed the price of gold rings at the threshold of 144.6-147.6 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.
World gold price
Closing the weekly trading session, world gold prices continued to be listed at the threshold of 4,377 USD/ounce.
Gold price forecast
After 3 consecutive weeks of price decreases, the gold market has had a new correction phase, ending the week above the threshold of 4,300 USD/ounce. In the coming week, three variables to closely monitor are oil prices, US bond yields and the USD.
If oil continues to fall, inflationary pressure will be partially relieved. This may reduce expectations that the Fed will continue to raise interest rates sharply, while supporting bond yields to go down. At that time, gold will have more room for recovery.
Conversely, if tensions in the Strait of Hormuz cause oil prices to rise again, the market may quickly return to concerns about inflation. At that time, yields and USD are likely to increase, creating double pressure on gold.
This is a particularly noteworthy risk because the oil market is still heavily affected by geopolitical developments. Weekend reports show that transportation through the Strait of Hormuz is still lower than normal, while Saudi Arabia's efforts to replace supply are helping the market somewhat reduce concerns.
Forecasting gold prices next week, the precious metal market has a basis to continue to recover, but there are not enough data to confirm that a strong upward trend has been established. The market is in a stage where the ability to maintain the support zone is important. That is the reaction of gold when entering the 4,400-4,420 USD/ounce zone.
If this zone is surpassed while yields and USD are still cooling down, the recovery momentum will have more basis. Conversely, if gold continuously fails here, the market is likely to continue to fluctuate widely with the 4-300 USD zone being an important support.
The information in the article only reflects market developments, not investment recommendations.
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