SJC gold bar price
As of 9:55 am, SJC gold bar prices were listed by DOJI Group at 156-159 million VND/tael (buying - selling), down 1 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.
Bao Tin Minh Chau listed SJC gold bar prices at 156-159 million VND/tael (buying - selling), down 1 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.
Phu Quy Jewelry Group listed SJC gold bar prices at 155.5-159 million VND/tael (buying - selling), down 1.3 million VND/tael on the buying side and down 1 million 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 9:55 am, DOJI Group listed gold ring prices at 156-159 million VND/tael (buying - selling), down 1 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.
Bao Tin Minh Chau listed gold ring prices at 156-159 million VND/tael (buying - selling), down 1 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.
Phu Quy Gold and Gems Group listed the price of gold rings at 155.5-158.5 million VND/tael (buying - selling), down 1.3 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 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 9:55 AM, world gold prices were listed around the threshold of 4,534.3 USD/ounce, up 33.2 USD compared to the previous day.
Gold price forecast
World gold prices are showing efforts to recover after a week of strong fluctuations. Precious metals are supported when crude oil prices cool down, US Treasury bond yields fall and the USD no longer maintains too much pressure as in the previous period.
However, gold's upward momentum is still not really sustainable as the market continues to balance expectations of cooling geopolitical tensions and inflationary pressure in the US.
The focus of the market is still developments in the Middle East region, especially related to the Strait of Hormuz. Signals about the possibility of the US and Iran reaching an agreement to extend the ceasefire have helped oil prices fall sharply. This partly eases concerns about inflation due to energy, thereby supporting the outlook for gold - an interest-free asset.
However, the downside of this development is that safe-haven demand may weaken as the risk of conflict decreases. Therefore, the overall impact on gold is currently quite opposite. Lower oil prices and reduced yields are supporting factors, but expectations of easing geopolitical tensions partially limit defensive buying power.
US economic data is also creating inconsistent signals. The Personal Consumption Price Index (PCE) is still higher than the US Federal Reserve (Fed) target of 2%, while consumer spending is still quite stable.
This makes the market more cautious with expectations of monetary policy easing. When inflation has not really cooled down clearly, the Fed may continue to maintain a cautious stance, thereby putting certain pressure on gold.
According to Mr. Marc Chandler - Managing Director of Bannockburn Global Forex, gold has recovered along with risky assets thanks to expectations of a prolonged ceasefire in the Middle East. He believes that if gold prices exceed the important resistance zone, technical signals may be more positive.
Meanwhile, Mr. Naeem Aslam - Investment Director at Zaye Capital Markets - said that the market is balancing two factors: reduced geopolitical tensions and high inflationary pressure. According to this expert, gold not only responds to inflation but is also affected by energy risks, shipping routes, confidence in the USD and safe-haven demand.
Technically, the near resistance zone of gold prices is around 4,550-4,576 USD/ounce. If it crosses this zone, the precious metal may head towards higher levels. Conversely, if it loses the support zone around 4,526 USD/ounce, gold prices are at risk of deeper correction in the short term.
Gold price data is compared to the previous day.
See more news related to gold prices HERE...
