SJC gold bar price
As of 9:30 am, Phu Quy Jewelry Group listed SJC gold bar prices at 137.5-141.5 million VND/tael (buying - selling), down 1.5 million VND/tael in both directions. The buying - selling difference is at 4 million VND/tael.
At the same time, SJC gold bar prices were listed by DOJI Group at 137.5-141.5 million VND/tael (buying - selling), down 1.5 million VND/tael in both directions. The buying - selling difference was at 4 million VND/tael.
Bao Tin Minh Chau listed SJC gold bar prices at 138.1-142 million VND/tael (buying - selling), down 2.2 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3.9 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 137.5-141.5 million VND/tael (buying - selling), down 1.5 million VND/tael in both directions. The buying - selling difference is at 4 million VND/tael.
DOJI Group listed gold ring prices at the threshold of 138.5-142.5 million VND/tael (buying - selling), down 1.7 million VND/tael in both directions. The difference between buying and selling prices is at the threshold of 4 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 138.1-142 million VND/tael (buying - selling), down 2.2 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3.9 million VND/tael.
World gold price
At 9:30 am, world gold prices were listed around the threshold of 4,046.5 USD/ounce, down 45.2 USD/ounce.
Gold price forecast
Gold prices are entering a period of strong struggle as investors are simultaneously monitoring the developments of conflicts in the Middle East and the upcoming monetary policy decision of the US Federal Reserve (Fed). Although risk hedging demand is still present, the precious metal has not attracted stable safe-haven cash flow due to high bond yields.
Oil prices fell sharply after the US and Iran temporarily suspended attacks, partly easing concerns about inflation. Brent oil retreated to around 85.87 USD/barrel, while US crude oil fell to about 82.61 USD/barrel. This development helped cool down US government bond yields and created conditions for gold prices to recover.
However, risks in the energy market have not completely disappeared. Oil transportation through the Strait of Hormuz has not yet returned to normal. Any new tense developments in this region could cause energy prices to rise again, leading to inflationary pressure and changing monetary policy expectations.
The focus of the market is currently on the Fed meeting. Investors are considering the possibility that this agency will raise interest rates by another 0.25 percentage points. If the Fed continues to show a tightening stance, the USD and real yields may increase, thereby putting pressure on gold because the precious metal does not bring yields.
In the opposite direction, some US economic data shows that manufacturing activity is not really solid. Sustainable goods orders in June only increased by 0.3%, significantly lower than forecast. This may make the Fed more cautious, because raising interest rates in the context of economic slowdown risks weakening demand without completely solving inflationary pressure due to energy prices.
Technically, the 4,041-4,072 USD/ounce zone is playing a near supporting role. If losing this area, gold prices may retreat to 3,960 USD/ounce, deeper to 3,886 USD/ounce. Conversely, if it crosses the resistance zone of 4,162-4,214 USD/ounce, the upward momentum may be strengthened, towards the 4,221 USD/ounce mark and further to 4,382 USD/ounce.
In the short term, gold prices are forecast to continue to fluctuate strongly, largely depending on the Fed's message, bond yield developments and the situation in the Strait of Hormuz.
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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