SJC gold bar price
As of 9:07 am, SJC gold bar prices were listed by DOJI Group at the threshold of 159.4-162.4 million VND/tael (buying - selling), down 1.1 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.
Bao Tin Minh Chau listed SJC gold bar prices at 159.4-162.4 million VND/tael (buying - selling), down 1.1 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.
Phu Quy Jewelry Group listed SJC gold bar prices at 159.4-162.4 million VND/tael (buying - selling), down 1.1 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.
9999 gold ring price
As of 9:07 am, DOJI Group listed the price of gold rings at 159.4-162.4 million VND/tael (buying - selling), down 1.1 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 159.4-162.4 million VND/tael (buying - selling), down 1.1 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.
Phu Quy Jewelry Group listed the price of gold rings at the threshold of 159.4-162.4 million VND/tael (buying - selling), down 900,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.
Currently, the buying - selling price difference of gold is at a very high level, around 3 million VND/tael, posing a risk of losses for investors.
World gold price
At 9:07 am, world gold prices were listed around the threshold of 4, 523.5 USD/ounce, down 17.2 USD compared to the previous day.
Gold price forecast
Although world gold prices fluctuate sideways, many experts believe that the market is still strongly affected by geopolitical developments in the Middle East, oil price trends and interest rate expectations of the US Federal Reserve (Fed).
Spot gold prices are currently fluctuating around 4,520 - 4,540 USD/ounce as the market continuously absorbs mixed signals from the US economy. Newly released data shows that the number of weekly US jobless claims has decreased to 209,000 claims, reflecting that the labor market is still quite stable. Meanwhile, the Philadelphia Fed's manufacturing index unexpectedly fell sharply to -0.4 points in May, indicating that manufacturing activity is slowing down.
Some other indicators also send mixed signals. The number of houses started construction in the US in April decreased by 2.8%, but construction permits increased by 5.8%. The PMI index of manufacturing increased to 55.3 points, while the PMI of services decreased to 50.9 points. This development makes it impossible for the market to clearly determine the next direction of US monetary policy.
According to analysts, the fact that the yield of 10-year US Treasury bonds is maintained around the threshold of 4.6% is putting certain pressure on gold. The strengthening USD also reduces the attractiveness of the precious metal to investors holding other currencies.
However, geopolitical factors are still the biggest variables dominating the gold market. The Strait of Hormuz continues to be seen as a "hot spot" directly affecting oil prices, inflation and refugee sentiment. Signals show that the US and Iran may reach an agreement that once helped cool down oil prices, pull bond yields down and support gold to maintain a high price range.
Meanwhile, tensions quickly returned after the Iranian supreme leader expressed a tougher stance in nuclear negotiations. WTI oil prices at times returned above the 100 USD/barrel mark, while Brent oil approached 107 USD/barrel. This development makes the market worried that inflationary pressure may increase again.
Mr. Jim Wyckoff - senior analyst at Kitco - said that gold is in an accumulation phase and is simultaneously affected by both safe-haven factors and interest rate expectations. According to him, the important resistance zone for gold is currently in the range of 4,550 - 4,600 USD/ounce. If it surpasses this zone, gold prices may head towards the levels of 4,660 USD/ounce and 4,680 USD/ounce.
In the opposite direction, if selling pressure increases, gold is at risk of retreating to the support zone of 4,489 USD/ounce, deeper to 4,470 USD/ounce.
Gold price data is compared to the previous day.
See more news related to gold prices HERE...
