Updated SJC gold price
As of 9:10 a.m., the price of SJC gold bars was listed by Saigon Jewelry Company at 117.7 crore VND10.7 million/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling prices is at 2 million VND/tael.
DOJI Group listed the price of SJC gold bars at 117.7 crore VND11.7 million/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling prices is at 2 million VND/tael.
Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 117.7-119 seven million VND/tael (buy in - sell out), unchanged. The difference between buying and selling prices is at 2 million VND/tael.
Phu Quy Gold and Stone Group listed the price of SJC gold bars at 117-119 7.7 million VND/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling prices is at 2.7 million VND/tael.
9999 round gold ring price
As of 9:10 a.m., Bao Tin Minh Chau listed the price of gold rings at 114.6-117.6 million VND/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling is 3 million VND/tael.
DOJI Group listed the price of gold rings at 114.5-116.5 million VND/tael (buy in - sell out). The difference between buying and selling is at 2 million VND/tael.
Phu Quy Gold and Stone Group listed the price of gold rings at 113.6-116.6 million VND/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling is 3 million VND/tael.
The buying-selling gap is pushed up too high, 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 9:25, the world gold price was listed around 3,344.8 USD/ounce, down 16.5 USD compared to 1 day ago.
Gold price forecast
Gold prices are sluggish despite serious tensions in the Middle East over the weekend. Gold futures fell $1.2 as of 4:50 ET, surprising experts because gold prices would typically benefit from safe-haven demand when the US directly entered the region.
The gloomy developments of gold are even more difficult to explain when considering the context of a weakening USD. ICE US Dollar Index fell 0.4% in the session - often a factor supporting gold prices.
The decline in gold despite the decline in the USD shows that selling pressure is the main reason, meaning that gold prices may fall further if there is no supporting impact from exchange rates.
David Morrison - Senior Analyst at Trade Nation said that it is noteworthy that there was no wave of escape from risky assets in the second session. The general view seems to be that the US will participate at a limited military level but effectively, significantly weakening Iran's nuclear ambitions.
In another development, data recently released by the World Gold Council (WGC) shows that 95% of reserve managers expect central banks to continue to increase gold reserves in the next 12 months. This is a record high since the survey began in 2019 and increased by 17% compared to the data recorded in 2024. Therefore, central banks, especially in China and Russia, are continuing to accumulate gold as part of a strategy to diversify their portfolios away from the US dollar.
Technically, the August gold contract still has a clear technical advantage in the short term. The next target for buyers is to close above the resistance level of 3,476.30 USD/ounce. The nearest target for the sellers is to push the price below 3,300 USD/ounce.
The first resistance was the night peak of $3,413.8/ounce, followed by $3,450/ounce. First support was last week's low of $3,356.20 an ounce, followed by June's low of $3,313.10 an ounce.
Economic data to watch this week
Tuesday: US consumer confidence; Chairman of the US Federal Reserve (FED) auctioned before the House Financial Services Committee.
Wednesday: New home sales; FED Chairman holds a hearing before the Senate Banking, Housing and Urban Committee.
Thursday: Weekly jobless claims, long-term US orders, final Q1/2025 GDP, Waiting for sale house transactions.
Friday: US PCE core inflation.
Note: Gold price data is compared to a day earlier.
See more news related to gold prices HERE...
