SJC gold bar price
As of 9:10 am, SJC gold bar prices were listed by DOJI Group at the threshold of 157-160 million VND/tael (buying - selling), an increase of 1 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 157-160 million VND/tael (buying - selling), an increase of 1 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.
Phu Quy Jewelry Group listed SJC gold bar prices at the threshold of 156.8-160 million VND/tael (buying - selling), an increase of 800,000 VND/tael on the buying side and an increase of 1 million VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 3.2 million VND/tael.
9999 gold ring price
As of 9:10 am, DOJI Group listed gold ring prices at the threshold of 157-160 million VND/tael (buying - selling), an increase of 1 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 157-160 million VND/tael (buying - selling), an increase of 1 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.
Phu Quy Gold and Gems Group listed the price of gold rings at the threshold of 156.8-159.8 million VND/tael (buying - selling), an increase of 800,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.
Currently, the buying - selling price difference of gold is at a very high level, around 3 to 3.2 million VND/tael, posing a risk of losses for investors.
World gold price
At 9:10 am, world gold prices were listed around the threshold of 4,505.1 USD/ounce, up sharply by 103 USD compared to the previous day.
Gold price forecast
World gold prices are receiving support again after a series of US economic data shows slowing growth, while the USD weakens. However, inflationary pressure and geopolitical fluctuations around the Strait of Hormuz still make the short-term outlook for the precious metal unpredictable.
Newly released data shows that US Q1 GDP growth was adjusted down to 1.6%, lower than the previous estimate of 2%. At the same time, the price index of personal consumption (PCE) in April increased by 0.4% compared to the previous month and increased by 3.8% compared to the same period last year. The core PCE - a measure of inflation prioritized by the US Federal Reserve (Fed) - increased by 0.2% monthly and 3.3% annually.
The slowdown in growth helped gold recover from the low in the session, because the market expects the Fed to have more room to ease monetary policy at the end of the year.
However, inflation is still significantly higher than the Fed's target of 2%, making interest rate cut expectations not really solid. High interest rates continue to be a disadvantage for gold, as the precious metal does not bring yields.
According to Mr. Jeffrey Roach - chief economist at LPL Financial, although US Q1 growth was adjusted down, corporate spending may still continue to contribute to growth in the short term. However, he believes that supply constraints will cause inflationary pressure to spread to both durable and non-permanent commodity groups in the next few months.
In addition, the US housing market also sent out signs of weakening as new home sales in April fell more sharply than forecast. This reflects pressure from high house prices, increased mortgage interest rates and cautious psychology of buyers. These negative data may increase safe-haven demand for gold, especially in the context of investors worried about a deeper slowdown in the US economy.
Notably, tensions around the Strait of Hormuz and information related to the US - Iran continue to be major variables. If the expectation of reaching an agreement helps oil prices cool down, inflationary pressure may decrease, thereby supporting gold through lower yields and the USD. Conversely, any new military developments could push oil prices, inflationary expectations and the USD back up, creating pressure on gold in the short term.
Technically, analysts believe that buyers need to push gold prices through important resistance zones to strengthen the recovery trend. Meanwhile, if prices lose near support zones, selling pressure may return stronger. Therefore, investors are recommended to be cautious, especially in the context that the buying - selling price difference in domestic gold is still high.
Gold price data is compared to the previous day.
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