SJC gold bar price
As of 9:20 am, Phu Quy listed SJC gold bar prices at the threshold of 145.7-148.7 million VND/tael (buying - selling), down 1 million VND/tael in both buying and selling directions. The buying - selling difference is at 3 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), down 1 million VND/tael 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 147.2-151.2 million VND/tael (buying - selling), down 200,000 VND/tael in both buying and selling directions. The buying - selling difference is at 4 million VND/tael.
9999 gold ring price
Phu Quy Gold and Gems Group listed the price of gold rings at the threshold of 145.7-148.7 million VND/tael (buying - selling), down 1 million VND/tael in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.
DOJI Group listed gold ring prices at the threshold of 145.7-149.7 million VND/tael (buying - selling), down 2 million VND/tael in both buying and selling directions. The difference between buying and selling is at 4 million VND/tael.
The price of gold rings is listed by Bao Tin Minh Chau at the threshold of 147.2-151.2 million VND/tael (buying - selling), down 200,000 VND/tael in both buying and selling directions. The difference between buying and selling is at 4 million VND/tael.
Jewelry gold price
DOJI listed 9999 jewelry gold at the threshold of 145-149 million VND/tael (buying - selling), down 1.5 million VND/tael in both buying and selling directions.
Bao Tin Minh Chau listed Thang Long 9999 Dragon Gold Jewelry at 145.5-150.5 million VND/tael (buying - selling), down 200,000 VND/tael in both buying and selling directions.
World gold price
At 9:25 am, world gold prices were listed around the threshold of 4,454.4 USD/ounce, down 127.6 USD.
Gold price forecast
Gold prices are under great pressure after the market strongly adjusted expectations for the US Federal Reserve (Fed)'s interest rate path. A tougher signal from the Jackson Hole conference caused the USD and US bond yields to rise together, thereby reducing the attractiveness of the precious metal.
The most notable message is that the Fed continues to put inflation control at the top. PCE inflation in 12 months remains at 3.7%, while the price increase rate of the last 6 months if converted annually is up to about 4.1%, significantly higher than the target of 2%.
In the context that the US labor market has not yet signaled a serious weakening, investors have fewer grounds to expect the Fed to soon ease policy. After new signals, the probability of the Fed raising interest rates at the September meeting has increased sharply from about 36% to nearly 60%.
This change puts direct pressure on gold prices. The yield of US government bonds with a 2-year term increased sharply, while the USD index went up. As the yield of profitable assets is higher, the opportunity cost of holding gold - non-interest assets - also increases.
Technically, the fact that gold prices fell below the 200-day moving average around 4,526 USD/ounce shows that the short-term trend has become less positive. The 4,458 USD/ounce area is an important support zone. If this threshold is clearly broken, the price is at risk of falling further back to the 4,320 USD/ounce zone.
In the opposite direction, to improve the outlook, gold needs to quickly recover above 4,504 USD/ounce, then rise back to the 4,526 USD/ounce zone. If these levels cannot be regained, short increases may mainly be technically recovering.
However, geopolitical risks in the Middle East, central bank gold buying activities and the need to diversify reserves are still long-term supporting factors.
In the coming sessions, the focus of the market continues to be US interest rate expectations. If the possibility of the Fed raising interest rates continues to be strengthened, the USD and yields remain at a high level, downward pressure on gold prices may not end soon.
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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