Updated SJC gold price
As of 9:15 a.m., DOJI Group listed the price of SJC gold bars at 147.8-149.8 million VND/tael (buy in - sell out), an increase of 1.2 million VND/tael in both directions. The difference between buying and selling prices is at 2 million VND/tael.
The price of SJC gold bars was listed by Bao Tin Minh Chau at 148.8-149.8 million VND/tael (buy in - sell out), an increase of 1.2 million VND/tael in both directions. The difference between buying and selling prices is at 1 million VND/tael.
Phu Quy Gold and Stone Group listed the price of SJC gold bars at 147.3-149.8 million VND/tael (buy - sell), an increase of 1.3 million VND/tael for buying and an increase of 1.2 million VND/tael for selling. The difference between buying and selling prices is at 2.5 million VND/tael.
9999 round gold ring price
As of 9:15 a.m., DOJI Group listed the price of gold rings at 146.4-149.4 million VND/tael (buy - sell), an increase of 900,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 150.3-153.3 million VND/tael (buy - sell), an increase of 300,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.
Phu Quy Gold and Stone Group listed the price of gold rings at 146.8-149.8 million VND/tael (buy - sell), an increase of 1.2 million VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.
The buying-selling gap is at a high level, increasing the risk for individual investors. Personal investors, especially those with a "surfing" mentality, need to consider carefully before putting money down.
World gold price
At 9:15 a.m., the world gold price was listed around 4,113.9 USD/ounce, up 38.6 USD.
Gold price forecast
According to Mr. Fawad Razaqzada - market analyst at City Index, the recent sell-off was predicted if considering the price increase this year. With the huge amount of purchases in recent times, investors have begun to take profits after a series of record increases. The impact of profit-taking and liquidation of buying positions has created real selling pressure, different from the previous period when there was only one increase.
Technically, Razaqzada said it is monitoring the support levels of $4,100, $4,080 and $4,060 respectively. If prices break these levels, gold is likely to adjust to the important psychological zone of $4,000/ounce.
Ole Hansen - Head of Commodity Strategy at Saxo Bank analyzed that gold prices may fall to $3,973 without affecting the long-term uptrend. Despite short-term risks, gold and silver are still in a structural bull market, driven by a re-evaluation of confidence in the global financial system.
Meanwhile, Ms. Carley Garner - co-founder of brokerage DeCarley Trading said that she started predicting gold reversal since the price exceeded 3,000 USD/ounce, but the market has gone back: in just 30 weeks, gold has continuously set new peaks above 4,000 USD/ounce. The strong increase has led to large fluctuations, as reflected in recent strong trends.
Garner admitted that prices had not decreased as she expected, but the strong fluctuations caused many risks to the selling position. She is using small-scale gold futures (micro gold) as a defense, to limit losses until the market is more stable.
We try to weather the big waves. When the market is less hot, we may get rid of orders without doing too much damage," said Garner.
She affirmed that the view that gold is being overbought is correct. According to Garner, the recent increase of 1,000 USD is unreasonable, showing that investors are relying on a crowd psychology rather than the real value of gold.
Technically, buyers still dominate the gold market in the short term. The next target is to break above the key resistance zone of $4,250/ounce, while the sellers aim to pull prices back below the psychological support level of $4,000/ounce.
The 4,175 - 4,200 USD/ounce area is a notable barrier. The levels of 4,100 USD/ounce and 4,079.6 USD/ounce played a near support role.
Note: Gold price data is compared to a day earlier.
See more news related to gold prices HERE...
