SJC gold bar price
Closing the week's trading session, Saigon SJC Jewelry Company listed SJC gold prices at the threshold of 145.7-148.7 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.
Compared to the closing session of last week's trading (August 23), the price of SJC gold bars at Saigon SJC Jewelry Company increased by 1.1 million VND/tael in both buying and selling directions.
Meanwhile, DOJI listed SJC gold price at the threshold of 145.7-148.7 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.
Compared to the closing session of last week (August 23), the price of SJC gold bars at DOJI increased by 1.1 million VND/tael in both buying and selling directions.
If buying SJC gold bars on August 23 and selling them on today's session (August 30), buyers at Saigon SJC and DOJI Jewelry Company both lost 1.9 million VND/tael.
9999 gold ring price
At the same time, DOJI Group listed the price of gold rings at the threshold of 145.7-149.7 million VND/tael (buying - selling), an increase of 200,000 VND/tael in both buying and selling directions. The buying - selling difference is at 4 million VND/tael.
Phu Quy Jewelry Group listed the price of gold rings at the threshold of 145.7-148.7 million VND/tael (buying - selling), an increase of 1.1 million VND/tael in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.
If buying gold rings on August 23 and selling them on today's session (August 30), buyers at DOJI will lose 3.8 million VND/tael, while buyers at Phu Quy will lose 1.9 million VND/tael.
World gold price
Closing the week's trading session, world gold prices were listed at 4,454.4 USD/ounce, down 148 USD compared to a week ago.
Gold price forecast
After a sharp drop at the end of the week, gold price prospects in the coming sessions are assessed to continue to be greatly affected by US interest rate expectations, the diễn biến of the USD and Treasury bond yields.
The gold market has just experienced a week of strong fluctuations. The precious metal once increased to a high of about three months, but quickly reversed after tougher monetary policy signals appeared. World gold prices closed the week around the 4,454 USD/ounce range, significantly lower than the previous peak of nearly 4,698 USD/ounce.
Pressure on gold increased as the market raised the possibility that the US Federal Reserve (Fed) would continue to tighten monetary policy. After Fed Chairman Kevin Warsh's message at Jackson Hole, expectations of a possible interest rate hike in September increased again. The USD and US bond yields therefore also went up, unfavorably for gold - an asset that does not yield interest.
Technically, the decline at the end of the week caused gold prices to lose some important support zones. This may make the market more cautious in the short term. If selling pressure continues to prevail, the area around 4,435 USD/ounce will be a noteworthy milestone. Breaking through this area may increase adjustment pressure. Conversely, gold needs to recover through the resistance zones above to strengthen the ability to return to the upward trend.
However, analysts' sentiment towards the prospects for next week has not completely shifted to negative. In the latest survey by a precious metals website with 21 Wall Street experts, 10 people, equivalent to 48%, predicted gold prices would increase; 6 people, accounting for 29%, said prices would continue to fall; the remaining 5 people predicted the market might move sideways.
Individual investors also lean towards a recovery scenario. Among 207 survey participants, 59% expect gold prices to increase next week, 21% forecast a decrease and 20% believe prices will remain flat.
The upcoming developments may therefore still be very unpredictable. Besides technical signals after the deep decline session, investors will focus on monitoring US economic data to assess the next direction of the Fed. Changes in interest rate expectations, the USD and bond yields are likely to continue to be factors leading gold prices in the new week.
Gold price data is compared to a week earlier.
See more news related to gold prices HERE...
