SJC gold bar price
As of 9:10 am, Phu Quy Gold and Gems Group listed SJC gold bar prices at the threshold of 145.3-148.5 million VND/tael (buying - selling), an increase of 1.8 million VND/tael on the buying side and an increase of 1.7 million VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 3.2 million VND/tael.
At the same time, SJC gold bar prices were listed by DOJI Group at the threshold of 145.5-148.5 million VND/tael (buying - selling), an increase of 1.7 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.
Bao Tin Minh Chau listed SJC gold bar prices at the threshold of 144.3-148 million VND/tael (buying - selling), an increase of 1.6 million VND/tael on the buying side and an increase of 1.8 million VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 3.7 million VND/tael.
9999 gold ring price
As of 9:10 am, Phu Quy Gold and Gems Group listed the price of gold rings at 145-148 million VND/tael (buying - selling), an increase of 1.8 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 the threshold of 145.5-148.5 million VND/tael (buying - selling), an increase of 1.7 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.
Bao Tin Minh Chau listed gold ring prices at the threshold of 144.3-148 million VND/tael (buying - selling), an increase of 1.6 million VND/tael on the buying side and an increase of 1.8 million VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 3.7 million VND/tael.
World gold price
At 10:10 AM, world gold prices were listed around the threshold of 4,088.6 USD/ounce, up 72.5 USD compared to the previous day.
Gold price forecast
The market is witnessing a fierce tug-of-war between macroeconomic and geopolitical factors. At the end of the North American trading session last weekend, spot gold prices recovered to the threshold of 4,088.6 USD/ounce (up 1.55%). Along with the recovery momentum, silver prices also jumped to 59.05 USD/ounce. This recovery is due to the cooling of 10-year US Treasury bond yields (backing to around 4.4%) and the weakening of the USD.
In addition, inflationary pressure from the energy market has eased as crude oil prices plummeted (WTI oil retreated to around 69.23 USD/barrel). Investors assess that tensions in the Strait of Hormuz are currently at a controllable risk instead of the risk of complete blockade, with maritime traffic recovering 80% compared to before.
However, in the short term, monetary policy from the US Federal Reserve (Fed) is still a "dark cloud" curbing the upward momentum of precious metals. Although inflation shows signs of cooling down, the market is still assessing risks regarding the possibility of another wave of interest rate hikes this year.
Moreover, the explosion of the artificial intelligence (AI) era is creating incredible resilience for the US economy, attracting capital back and unintentionally creating another "reverse wind" for the gold market. From a technical perspective, to break through, buyers need to push prices beyond the resistance zone of 4,115 - 4,248 USD/ounce, while the important support level below is at 3,959 USD/ounce.
Despite the existing pressures, experts believe that the long-term attractiveness of precious metals has not decreased. Notably, Bank of America (BofA) still firmly maintains the goal that gold prices will reach 6,000 USD/ounce, although admitting that the market may need more time to reach this milestone. Agreeing with this view, commodity analysts at BMO Capital Markets predict that precious metals can completely reach the 5,000 USD/ounce mark in the first quarter of next year.
The core driving force for the long-term upward momentum still lies in the trend of diversifying foreign exchange reserves of countries. The latest report by the World Gold Council (WGC) indicates that 89% of central banks expect global gold reserves to continue to increase in the next 12 months.
As major economies are still facing huge public debt, gold continues to affirm its position as a strategic defensive asset, helping investors and financial institutions maintain effective purchasing power.
Gold price data is compared to the previous day.
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