SJC gold bar price
As of 9:45 am, Phu Quy Jewelry Group listed SJC gold bar prices at 144.8-148 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 3.2 million VND/tael.
At the same time, SJC gold bar prices were listed by DOJI Group at the threshold of 145-148 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 the threshold of 3 million VND/tael.
Bao Tin Minh Chau listed SJC gold bar prices at 144-147.5 million VND/tael (buying - selling), down 300,000 VND/tael on the buying side and down 500,000 VND/tael on the selling side. The difference between buying and selling prices is at 3.5 million VND/tael.
9999 gold ring price
As of 9:45 am, Phu Quy Gold and Gems Group listed the price of gold rings at the threshold of 144.5-147.5 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 the threshold of 3 million VND/tael.
DOJI Group listed gold ring prices at the threshold of 145-148 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 the threshold of 3 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 144-147.5 million VND/tael (buying - selling), down 300,000 VND/tael on the buying side and down 500,000 VND/tael on the selling side. The difference between buying and selling prices is at 3.5 million VND/tael.
World gold price
At 9:50 am, world gold prices were listed around the threshold of 4.065 USD/ounce, down 23.6 USD compared to the previous day.
Gold price forecast
This week's gold price survey shows that pessimistic sentiment is overwhelming Wall Street. Among 18 analysts on Wall Street participating in the survey, up to 44% (8 people) predict gold prices will continue to fall this week; 28% (5 people) expect prices to increase and 28% (5 people) predict the market will move sideways.
Similarly, an online survey of 238 individual investors also gave quite gloomy results. Up to 46% (109 people) are worried that gold prices will fall to a lower level this week; 37% (89 traders) maintain optimistic sentiment and 17% (40 people) believe that the precious metal will enter an accumulation phase.
Explaining the current downward spiral, analysts pointed out the double pressure from macroeconomic and technical factors. The mass liquidation of technology stocks and the tightening of the "paper gold" market by China have created significant pressure. Along with that, geopolitical tensions are showing signs of cooling down, combined with positive US economic data, have eased the psychology of seeking safe haven assets, thereby triggering a wave of massive profit-taking in the market.
Although world gold prices are sinking into red and continuously losing important price zones, some Wall Street experts believe that this deep correction may be a rare "bottom-fishing" opportunity before the precious metal enters a long-term upward cycle.
Mr. Sean Lusk, Co-Director of Trading Risk Prevention at Walsh Trading, assessed that the current decline is a huge buying opportunity.
According to this expert, if economic data continues to push the market down, gold prices may retreat to the potential bottom of 3,700 - 3,800 USD/ounce before rebounding strongly thanks to the seasonal price increase cycle at the end of July, as well as the expectation that global inflation will gradually ease.
From a technical analysis perspective, Mr. Alex Kuptsikevich, senior market analyst at FxPro, warns that the picture of gold is facing many challenges.
The expert pointed out the emergence of the "death cross" model and said that gold is under great pressure as the market continuously adjusts expectations for the US Federal Reserve (Fed)'s interest rate hike roadmap this year.
Gold price data is compared to the previous day.
See more news related to gold prices HERE...
