SJC gold bar price
As of 9:10 am, Phu Quy Jewelry Group listed SJC gold bar prices at 137-140 million VND/tael (buying - selling), keeping the buying direction unchanged and decreasing by 1 million VND/tael on the selling side. The buying - selling difference is at 3 million VND/tael.
At the same time, SJC gold bar prices were listed by DOJI Group at 137-140 million VND/tael (buying - selling), keeping the buying direction unchanged and decreasing by 1 million VND/tael on the selling side. The buying - selling difference was at 3 million VND/tael.
Bao Tin Minh Chau listed SJC gold bar prices at 138-142 million VND/tael (buying - selling), down 300,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at 4 million VND/tael.
9999 gold ring price
As of 9:10 am, Phu Quy Gold and Gems Group listed the price of gold rings at 137-140 million VND/tael (buying - selling), keeping the buying direction unchanged and decreasing by 1 million VND/tael on the selling side. The buying - selling difference is at 3 million VND/tael.
DOJI Group listed the price of gold rings at the threshold of 137.3-141.3 million VND/tael (buying - selling), an increase of 300,000 VND/tael in both directions. The buying - selling difference is at 4 million VND/tael.
Bao Tin Minh Chau listed gold ring prices at 138-142 million VND/tael (buying - selling), down 300,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at 4 million VND/tael.
World gold price
At 9:10 am, world gold prices were listed around the threshold of 4,057.3 USD/ounce, slightly down 2.6 USD/ounce.
Gold price forecast
World gold prices fell into a state of fluctuation in the short term as the market was negatively affected by interest rate policies, US economic data and safe-haven demand.
Manufacturing activity in the US in July recorded more positive results than forecast. The Manufacturing Purchasing Managers' Index rose to 55.6 points, marking the seventh consecutive month of maintaining above the expansion threshold. Indicators of new orders, output and employment simultaneously improved, showing that the US economy still maintained relatively good resilience.
This data may cause the US Federal Reserve (Fed) to continue to be cautious about loosening monetary policy. In the context of inflation still higher than target, interest rates and real yields are likely to remain high, increasing the opportunity cost of holding gold – an asset that does not generate periodic returns.
Previously, the decision to keep the operating interest rate unchanged in the range of 3.5-3.75% along with opinions supporting interest rate hikes within the Fed made the market assess that monetary policy still leaned towards toughness. This is considered one of the major obstacles to the breakthrough potential of gold prices.
However, the precious metal still received support as the USD, US bond yields and oil prices weakened at times. Geopolitical instability, the need to diversify reserves and gold buying activities of central banks also continued to create a supporting foundation for the market in the long term.
Sucden Financial (an international commodity brokerage company) believes that gold prices are still relatively high compared to the level reflected by real yields and the diễn biến of the USD. After a sharp decline from the peak of the year, the added value due to safe-haven demand before geopolitical and macroeconomic risks has not been completely eliminated. Therefore, gold prices may still face adjustments if investors continue to narrow defensive positions.
In the third quarter, gold prices may mainly accumulate in the 3,950-4,300 USD/ounce range. Losses to the low range may attract buying power, while the area above 4,200 USD/ounce is forecast to face profit-taking pressure.
Technically, the 4,000-4.021 USD/ounce zone is a noteworthy support area. If losing the 4,000 USD/ounce mark, selling pressure may increase. Conversely, gold prices need to surpass the 4,87-4,116 USD/ounce zone to consolidate recovery momentum and move towards higher levels.
The market is currently awaiting the US July jobs report. This figure may change expectations about the Fed's interest rate roadmap, thereby deciding the next direction of gold prices.
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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