SJC gold bar price
As of 9:50 am, Phu Quy listed SJC gold bar prices at the threshold of 144.7-148.4 million VND/tael (buying - selling), down 700,000 VND/tael and down 300,000 VND/tael on the selling side. The buying - selling difference is at 3.7 million VND/tael.
At the same time, SJC gold bar prices were listed by DOJI at the threshold of 145.7-148.7 million VND/tael (buying - selling), unchanged in both buying and selling directions. The buying - selling difference was at 3 million VND/tael.
SJC gold bar price was listed by Bao Tin Minh Chau at the threshold of 144.8-148.8 million VND/tael (buying - selling), down 900,000 VND/tael in both buying and selling directions. The buying - selling difference is at 4 million VND/tael.
9999 gold ring price
As of 9:50 am, Ancarat listed the price of 9999 Tich Tai Gold Ring at 145.3-148.3 million VND/tael (buying - selling), down 300,000 VND/tael in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.
Phu Quy Jewelry Group listed the price of gold rings at the threshold of 144.7-148.1 million VND/tael (buying - selling), down 700,000 VND/tael on the buying side and down 300,000 VND/tael on the selling side. The buying - selling difference is at 3.4 million VND/tael.
DOJI Group listed the price of gold rings at the threshold of 145.2-149.2 million VND/tael (buying - selling). The buying - selling difference is at 4 million VND/tael.
The price of gold rings is listed by Bao Tin Minh Chau at the threshold of 144.5-148.5 million VND/tael (buying - selling), down 1.2 million VND/tael in both buying and selling directions. The difference between buying and selling is at 4 million VND/tael.
Jewelry gold price
As of 9:50 am, Ancarat listed the price of 24K 9999 Gold Jewelry at 140.3-148.3 million VND/tael (buying - selling), down 300,000 VND/tael in both buying and selling directions.
DOJI listed 9999 jewelry gold at the threshold of 143.5-147.5 million VND/tael (buying - selling), down 1 million VND/tael in both buying and selling directions.
Bao Tin Minh Chau listed Thang Long 9999 Dragon Gold Jewelry at 142.8-147.8 million VND/tael (buying - selling), down 900,000 VND/tael in both buying and selling directions.
World gold price
At 9:50 am, world gold prices were listed around the threshold of 4,306.8 USD/ounce, a sharp decrease of 134.8 USD compared to the previous day.
Gold price forecast
World gold prices are under strong adjustment pressure as US bond yields rise, the USD strengthens, and expectations that the US Federal Reserve (Fed) will continue to maintain a tough interest rate stance. Notably, gold prices have at times fallen below 4,300 USD/ounce, showing that selling pressure shows no signs of ending.
This development appeared in the context of sharply rising oil prices after new tensions in the Middle East. Brent oil approached 95 USD/barrel, while WTI oil surpassed 90 USD/barrel. Rising energy prices increased inflation concerns, thereby pushing US government bond yields up. 10-year term yields were around 4.79%, while 2-year term increased to about 4.39%.
This is an unfavorable environment for gold because precious metals do not yield yields. When bond yields increase, the opportunity cost of holding gold is greater, causing cash flow to tend to shift to profitable assets.
The latest economic data is also not weak enough to reverse monetary policy expectations. The number of vacant jobs in the US in July increased slightly to 7.3 million, while the manufacturing index in August fell to 54.6 points but is still above the threshold reflecting expansion. The market is assessing the probability of the Fed raising interest rates in September at around 66%.
In the coming sessions, the focus will shift to the private sector employment report, the number of unemployment claims, the service index and especially the August non-farm payroll report. If the labor market continues to maintain its strength, bond yields may remain high, thereby putting more pressure on gold. Conversely, the clearly weakening employment data may help the precious metals experience a technical recovery.
Technically, the fact that gold prices broke through the support zone of 4,329-4,311 USD/ounce and at times fell below 4,300 USD/ounce is a noteworthy sign. After this support zone was broken, the price risk of continuing to test the area of about 4,216-4,203 USD/ounce has increased.
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.
See more news related to gold prices HERE...
