SJC gold bar price
As of 9:45 am, Phu Quy Jewelry Group listed SJC gold bar prices at 143-146 million VND/tael (buying - selling), down 1.8 million VND/tael on the buying side and down 2 million VND/tael on the selling side. The difference between buying and selling prices is at 3 million VND/tael.
At the same time, SJC gold bar prices were listed by DOJI Group at 143-146 million VND/tael (buying - selling), down 2 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 142.5-146 million VND/tael (buying - selling), down 1.5 million VND/tael in both buying and selling directions. 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 143-146 million VND/tael (buying - selling), down 1.5 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.
DOJI Group listed gold ring prices at 143-146 million VND/tael (buying - selling), down 2 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 the price of gold rings at 142.5-146 million VND/tael (buying - selling), down 1.5 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3.5 million VND/tael.
World gold price
At 10:10 AM, world gold prices were listed around the threshold of 3,966.1 USD/ounce, down 41.4 USD compared to the previous day.
Gold price forecast
World gold prices are entering a remarkable correction phase, under great pressure from the recovery of oil prices and the upward momentum of US Treasury bond yields. As geopolitical tensions in the Hormuz Strait region show signs of slowing down after negotiations, safe-haven cash flow has weakened.
Instead, investors are focusing their attention on inflation risks and the US Federal Reserve (Fed)'s policy tightening move. The Fed's raising inflation forecasts and interest rate roadmap in the near future have made gold - a non-profit asset - less attractive in the short term.
Assessing market trends, Mr. Bart Melek - Head of Commodity Research at TD Securities - gave a rather cautious perspective when warning that gold prices could break through the 3,900 USD/ounce mark before finding a bottom.
The biggest risk to the gold market at this time is supply disruption pushing Brent oil prices up to 90-110 USD/barrel. This scenario will sharply increase inflation expectations, forcing the Fed to maintain tight monetary policy, thereby increasing the opportunity cost for holding gold" - Mr. Melek said.
However, this expert emphasized that the current decline is a strategic buying opportunity, because in the long term, gold can still break through to over 5,300 USD/ounce in 2027 thanks to liquidity injections and concerns about public debt.
From another perspective, demand from large organizations is still a solid pillar for precious metals. A survey by the World Gold Council (WGC) shows that 89% of reserve directors forecast that central banks' gold holdings will continue to increase.
Analyzing this factor, experts at Société Générale (SocGen) said: "Although energy and geopolitical instability may cause central banks to temporarily re-allocate priorities, we forecast that this bloc will still buy about 100-120 tons of gold in the remainder of this year. This figure is double the volume recorded in the first months of the year.
In terms of technical analysis, the nearest support zone for gold prices is currently at the 3,959 USD/ounce mark, deeper is 3,900 USD/ounce. In the opposite direction, to re-establish the upward momentum, buyers need strong enough push to break through the important resistance zone from 4,100 - 4,170 USD/ounce.
Gold price data is compared to the previous day.
See more news related to gold prices HERE...
