SJC gold bar price
As of 9:15 am, Phu Quy Jewelry Group listed SJC gold bar prices at 143-146 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.
At the same time, SJC gold bar prices were listed by DOJI Group at 143-146 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 142-145.5 million VND/tael (buying - selling), down 500,000 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 143-146 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.
DOJI Group listed gold ring prices at 143-146 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 142-145.5 million VND/tael (buying - selling), down 500,000 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 9:20 am, world gold prices were listed around the threshold of 3, 974.6 USD/ounce, a sharp decrease of 104.5 USD compared to the previous day.
Gold price forecast
World gold prices are under great pressure as the USD appreciates, US bond yields remain high, and expectations for the monetary policy of the US Federal Reserve (Fed) are changing.
After the recent policy meeting, the market is increasing the possibility that the Fed may maintain a tougher stance in the near future, causing cash flow to tend to leave non-profit assets such as gold.
According to analysts, the fact that gold prices fell below the 4,000 USD/ounce threshold reflects a sharp correction after a period of hot increase before that.
Ms. Ewa Manthey - commodity analyst at ING - said that the current sell-off shows that the market is focusing more on high interest rates and tightened financial conditions. Although still positively assessing the long-term outlook for gold, this expert believes that the short-term environment is becoming more difficult as high yields and a strong USD continue to put pressure.
Besides the monetary factor, the cooling signals from geopolitical tensions also weakened safe-haven demand. Previously, the risk of energy supply disruption once pushed cash flow to gold as a defensive channel. However, as concerns about oil supply decreased, safe-haven buying power in the precious metals market also decreased.
Technically, some experts believe that the 3,950 - 4,000 USD/ounce zone is an important support area for gold prices. If this zone is not maintained, the price may continue to fall back to the 3,850 USD/ounce zone. Conversely, to regain the upward momentum, gold needs to overcome higher resistance zones, initially the 4,350 USD/ounce mark.
Despite facing a lot of pressure in the short term, the fundamentals of gold are still assessed as positive. Central bank buying demand, the trend of foreign exchange reserve diversification and prolonged geopolitical risks are still important supports for the precious metal.
ING believes that gold prices may still remain at a high level in the second half of the year, but the growth rate will be slower and more volatile than previously expected. Ms. Manthey emphasized that long-term supporting factors have not changed, but investors need to pay attention to the impact of a strong USD and high interest rates.
Gold price data is compared to the previous day.
See more news related to gold prices HERE...
