SJC Gold Bar Price
Recorded at 9 AM, SJC gold price was listed by DOJI Group at 77-79 million VND/tael (buy - sell).
Compared to the previous trading session, the gold price at DOJI decreased by 500,000 VND/tael in both buying and selling directions.
The difference between the buying and selling prices of SJC gold at DOJI is 2 million VND/tael. This high margin poses a risk of loss for investors.
Meanwhile, Saigon Jewelry Company SJC listed the SJC gold price at 77-79 million VND/tael (buy - sell).
Compared to the previous trading session, the gold price at Saigon Jewelry Company SJC decreased by 500,000 VND/tael in both buying and selling directions.
The difference between the buying and selling prices of SJC gold at Saigon Jewelry Company SJC is 2 million VND/tael.
9999 Gold Ring Price
As of 9 AM, the round gold ring price 9999 Hung Thinh Vuong at DOJI Gold & Gems Group was listed at 75.75-77 million VND/tael (buy - sell); decreased by 50,000 VND/tael in the buying direction and decreased by 100,000 VND/tael in the selling direction.
Saigon Jewelry Company listed the gold ring price at 75.55-77.15 million VND/tael (buy - sell); unchanged in the buying direction and decreased by 150,000 VND/tael in the selling direction.
Bao Tin Minh Chau listed the gold ring price at 75.83-77.03 million VND/tael (buy - sell); decreased by 50,000 VND/tael in both directions.
In recent sessions, the gold ring price often fluctuates in line with the global market. Investors can refer to the global market and expert opinions before making investment decisions.
Global Gold Price
As of 9 AM, the global gold price listed on Kitco was at 2,379.3 USD/ounce; decreased by 12.5 USD/ounce compared to the previous trading session.
Gold Price Forecast
The global gold price dropped sharply as the USD index increased. Recorded at 9 AM on July 30, the US Dollar Index, which measures the greenback's volatility against six major currencies, was at 104.385 points (up 0.07%).
Dennis Gartman, editor of the Gartman Letter, believes that since gold prices have fallen for two consecutive weeks, investors will seize the opportunity to buy. "The market has been in an uptrend for quite a while and will continue to do so in the near future," this expert predicts.
"I am optimistic about gold this week. If the Chairman of the US Federal Reserve (FED) - Jerome Powell expresses a dovish stance in the July policy meeting, the USD will depreciate and gold will surge," said Colin Cieszynski, Market Strategist at SIA Wealth Management.
Market analyst Fawad Razaqzada of Forex.com believes that if the Fed confirms a dovish stance, the expected number of rate cuts this year could be up to three times.
Today, the FED begins its first meeting of July and will conclude on Wednesday night - early Thursday morning (Vietnam time). The Bank of Japan (BOJ) will also meet tomorrow, and the Bank of England (BOE) will meet and conclude on Thursday. The outcomes of these meetings will somewhat affect the financial markets in general and the gold market in particular.
Recently, expectations that the US Central Bank will soon pivot its monetary policy have provided a boost for gold. Recent reports showing that inflation is sustainably decreasing towards the 2% target have increased market optimism.
After a favorable inflation report in June, the market is betting that the FED will hint at the possibility of a rate cut in September during the mid-week monetary policy meeting.
