SJC gold bar price
As of 9:30 am, Phu Quy Gold and Gems Group listed SJC gold bar prices at 134-139 million VND/tael (buying - selling), down 2 million VND/tael on the buying side and down 3 million VND/tael on the selling side. The difference between buying and selling prices is at 5 million VND/tael.
At the same time, SJC gold bar prices were listed by DOJI Group at the threshold of 134-139 million VND/tael (buying - selling), down 2 million VND/tael on the buying side and down 3 million VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 5 million VND/tael.
Bao Tin Minh Chau listed SJC gold bar prices at the threshold of 138.7-142.5 million VND/tael (buying - selling), an increase of 1.2 million VND/tael on the buying side and a decrease of 500,000 million VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 3.8 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 134-139 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 5 million VND/tael.
DOJI Group listed gold ring prices at the threshold of 138.5-142.5 million VND/tael (buying - selling), an increase of 1.5 million VND/tael on the buying side and an increase of 500,000 VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 5 million VND/tael.
Bao Tin Minh Chau listed gold ring prices at the threshold of 138.7-142.5 million VND/tael (buying - selling), an increase of 1.2 million VND/tael on the buying side and a decrease of 500,000 million VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 3.8 million VND/tael.
World gold price
At 9:50 am, world gold prices were listed around the threshold of 4,026.6 USD/ounce, down 90.3 USD/ounce.
Gold price forecast
Gold prices are facing short-term correction pressure as many unfavorable factors appear. The yield of 10-year US Treasury bonds remains around 4.7%, while the USD appreciates, making the opportunity cost of holding precious metals higher. In this context, safe-haven demand from tensions in the Middle East is not enough to compensate for selling pressure.
More positive US job data than forecast continues to reinforce the view that the Fed does not need to rush to ease monetary policy. The number of initial jobless claims fell to 187,000, showing that the dismissal rate remains low even though recruitment activity shows signs of slowing down. The market is therefore leaning towards the scenario that the US Federal Reserve (Fed) will keep interest rates unchanged at the July 29 meeting and has not shown a clear soft signal.
The sharp increase in oil prices also created a reverse impact on gold. Tensions in the Straits of Hormuz and the Red Sea increased defense demand, but Brent oil exceeding 100 USD/barrel and WTI oil around 92 USD/barrel pushed inflation expectations higher. As inflation risk increases, bond yields and the USD gain more momentum to rise, thereby adversely affecting non-performing assets such as gold.
In the coming sessions, the market will focus on the Fed's message, preliminary PMI data of the US, bond yield developments, the USD and the risk of disruption of oil transportation in the Middle East. These factors may cause gold prices to continue to fluctuate strongly, in a state of tug-of-war between safe-haven demand and pressure from high interest rates.
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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