SJC gold bar price
As of 9:30 am, Phu Quy Gold and Gems Group listed SJC gold bar prices at 136-142 million VND/tael (buying - selling), a sharp decrease of 7.2 million VND/tael on the buying side and a decrease of 5 million VND/tael on the selling side. The difference between buying and selling prices is at 6 million VND/tael.
At the same time, SJC gold bar prices were listed by DOJI Group at 136-142 million VND/tael (buying - selling), down 8 million VND/tael on the buying side and down 5 million VND/tael on the selling side. The difference between buying and selling prices is at 6 million VND/tael.
Bao Tin Minh Chau listed SJC gold bar prices at 137.5-143 million VND/tael (buying - selling), down 6.2 million VND/tael on the buying side and down 4.5 million VND/tael on the selling side. The difference between buying and selling prices is at 5.5 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 136-141 million VND/tael (buying - selling), down 6.7 million VND/tael in both buying directions and down 5.2 million VND/tael in the selling direction. The difference between buying and selling prices is at 5 million VND/tael.
DOJI Group listed gold ring prices at 137-142 million VND/tael (buying - selling), down 7.5 million VND/tael on the buying side and down 5.5 million VND/tael on the selling side. The difference between buying and selling prices is at 5 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 137.5-143 million VND/tael (buying - selling), down 6.2 million VND/tael on the buying side and down 4.5 million VND/tael on the selling side. The difference between buying and selling prices is at 5.5 million VND/tael.
World gold price
At 9:30 am, world gold prices were listed around the threshold of 4,116.9 USD/ounce, down 6.5 USD/ounce.
Gold price forecast
World gold prices are regaining short-term advantages as technical buying cash flow and defensive demand increase. In the most recent trading session, the precious metal fluctuated in the range of 4,075.9-4,167 USD/ounce, maintaining above the important psychological zone of 4,100 USD/ounce. This development shows that buying power is still present, although the market is under pressure from rising oil prices, US bond yields are rising and the USD is holding at a high level.
Technically, gold prices have surpassed the downward trend line, while standing above important averages around 4,049 USD/ounce and 4,076 USD/ounce. This helps buyers regain their advantage in the short term. However, the 4,140-4,200 USD/ounce area is becoming a noteworthy resistance area.
If the price is firmly maintained above 4,167 USD/ounce, the recovery momentum may be extended to 4,200 USD/ounce, further to the 4,278 USD/ounce zone. In the opposite direction, selling pressure may return if gold falls below 4,080 USD/ounce. At that time, the next support zones are noted at 4,050 USD/ounce and 4,040 USD/ounce.
Macroeconomic factors still create a tug-of-war situation for the gold market. Cooling inflation data in the US partly reduces pressure for the US Federal Reserve (Fed) to continue to maintain a tough monetary stance. However, retail sales, unemployment claims and positive production activities make it impossible for investors to clearly bet on the possibility of the Fed soon shifting to a moderate direction.
Meanwhile, the yield of 10-year US government bonds increased to about 4.66%, continuing to disadvantage non-performing assets such as gold.
Tensions in the Strait of Hormuz and transport routes in the Red Sea still support safe-haven demand. However, Brent oil prices exceeding 94 USD/barrel and WTI oil around 86.83 USD/barrel may increase inflationary pressure, pull yields up and limit the increase of precious metals.
In the coming sessions, the market will monitor the Fed's statement, preliminary PMI data of the US, monetary policy decisions next week and the risk of transportation disruption in the Middle East. The short-term trend is leaning towards recovery, but gold prices may continue to fluctuate strongly in the 4,080-4,200 USD/ounce range.
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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