SJC gold bar price
As of 9:15 am, Phu Quy Jewelry Group listed SJC gold bar prices at 144-147 million VND/tael (buying - selling), down 700,000 VND/tael on the buying side and down 1 million VND/tael on the selling side. The difference between buying and selling prices is at 3 million VND/tael.
At the same time, SJC gold bar prices were listed by DOJI Group at 144-147 million VND/tael (buying - selling), down 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 142.5-146 million VND/tael (buying - selling), down 2 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3.5 million VND/tael.
9999 gold ring price
As of 9:15 am, Phu Quy Gold and Gems Group listed the price of gold rings at 144-147 million VND/tael (buying - selling), down 700,000 VND/tael in both directions. The difference between buying and selling prices is at 3 million VND/tael.
DOJI Group listed gold ring prices at 144-147 million VND/tael (buying - selling), down 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 the price of gold rings at 142.5-146 million VND/tael (buying - selling), down 2 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3.5 million VND/tael.
World gold price
At 9:15 am, world gold prices were listed around the threshold of 4,079.1 USD/ounce, down 72.5 USD compared to the previous day.
Gold price forecast
World gold prices continue to face pressure in recent sessions as the USD remains at its highest level of the year, while expectations for monetary policy from the US Federal Reserve (Fed) have become more cautious.
Pressure from high real interest rates and the trend of withdrawing some safe-haven cash flow after geopolitical tensions showing signs of cooling down have caused the precious metal to adjust sharply.
The market is currently focusing on the possibility of the Fed maintaining a tough stance in the near future, instead of expecting early policy easing. The fact that US economic data still shows certain resilience is supporting the USD, thereby disadvantaging gold - a non-performing asset.
In addition, geopolitical risks in the Middle East region are also gradually reflected in a downward trend. As transportation through the Strait of Hormuz shows signs of improvement, the previous risk compensation in oil and gold prices has been narrowed. This has caused the demand for holding gold as a safe asset to decline in the short term.
Technically, some experts believe that gold prices need to overcome the resistance zone of 4,180-4,200 USD/ounce to regain momentum. In case selling pressure continues to prevail, the support zone around 4,090 USD/ounce and deeper to 4,040 USD/ounce will be the marks that the market will monitor.
However, many assessments suggest that the current correction is not enough to reverse the long-term trend of gold. Mr. Jerry Prior - Chief Operating Officer and Senior Portfolio Manager at KraneShares Mount Lucas Managed Futures Index Strategy ETF - said that the recent price drop may create opportunities for investors to participate again.
According to Mr. Prior, the long-term momentum of gold is still strengthened by the trend of diversifying global reserves, as many countries reduce dependence on the USD. He believes that the dedollarization trend is structural and may continue to support gold demand from central banks.
In addition, demand from China is also becoming a noteworthy factor. Customs data shows that the country's gold imports in May increased sharply, reaching the highest level in more than two years. Experts believe that gold price adjustments may promote stockpiling and replenishment of goods in this large consumption market.
In the short term, gold may continue to fluctuate strongly in the face of USD developments, US bond yields and new signals from the Fed. However, with buying power from central banks and the trend of diversification of reserve assets, the long-term outlook for the precious metal is still positively assessed.
Gold price data is compared to the previous day.
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