SJC gold bar price
As of 9:20 am, Phu Quy Jewelry Group listed SJC gold bar prices at 142.5-146 million VND/tael (buying - selling), down 1.2 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3.5 million VND/tael.
At the same time, SJC gold bar prices were listed by DOJI Group at 143-146 million VND/tael (buying - selling), down 1.2 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.
Bao Tin Minh Chau listed SJC gold bar prices at the threshold of 142.6-146.6 million VND/tael (buying - selling), an increase of 150,000 VND/tael in both directions. The difference between buying and selling prices is at the threshold of 4 million VND/tael.
9999 gold ring price
As of 9:20 am, Phu Quy Gold and Gems Group listed the price of gold rings at 141.5-145 million VND/tael (buying - selling), down 1.2 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3.5 million VND/tael.
DOJI Group listed gold ring prices at 142-146 million VND/tael (buying - selling), down 500,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at 4 million VND/tael.
Bao Tin Minh Chau listed gold ring prices at the threshold of 142.6-146.6 million VND/tael (buying - selling), an increase of 150,000 VND/tael in both directions. The difference between buying and selling prices is at the threshold of 4 million VND/tael.
World gold price
At 9:20 am, world gold prices were listed around the threshold of 4,024.3 USD/ounce, up 14 USD/ounce.
Gold price forecast
Gold prices are trying to stabilize after a strong sell-off last week, but recovery prospects are still facing many obstacles. Buying to compensate for selling status helps the precious metal maintain above the 4,000 USD/ounce range, while US bond yields increase, the USD strengthens and high oil prices continue to limit the upward momentum.
Recent US economic data sends mixed signals. The cooling of consumer price indexes and production prices once increased expectations that the Fed could soon adjust monetary policy. However, positive retail sales, reduced unemployment claims and improved production activities make the market more cautious about the possibility of the Fed shifting to a loose stance.
Most investors still forecast that the Fed will keep interest rates unchanged at the July meeting. However, the possibility of further interest rate hikes in September has not been completely eliminated. The yield of 10-year US government bonds exceeded 4.6%, while the yield of 2-year bonds remained above 4.22%. This development increases the opportunity cost of holding gold, an uninterestable asset.
Geopolitical factors continue to create support for the market. Tensions in the Middle East and the risk of disruption of transportation through the Strait of Hormuz and the Red Sea keep defense demand at a high level. However, rising oil prices may also put inflationary pressure back, pulling bond yields and the USD up. Therefore, the impact of the conflict on gold is happening in two directions.
In the short term, gold prices are likely to continue to struggle around the $4,000/ounce mark. Market developments will depend on Fed officials' statements, September interest rate expectations, business results of major technology companies and new fluctuations in the Middle East.
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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