SJC gold bar price
As of 9:00 AM, Phu Quy Jewelry Group listed SJC gold bar prices at 138-141 million VND/tael (buying - selling), an increase of 1 million VND/tael in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.
At the same time, SJC gold bar prices were listed by DOJI Group at 138-141 million VND/tael (buying - selling), an increase of 1 million VND/tael in both buying and selling directions. The difference between buying and selling was at 3 million VND/tael.
Bao Tin Minh Chau listed SJC gold bar prices at the threshold of 138.5-142.5 million VND/tael (buying - selling), an increase of 500,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 4 million VND/tael.
9999 gold ring price
As of 9:00 AM, Phu Quy Gold and Gems Group listed the price of gold rings at 138-141 million VND/tael (buying - selling), an increase of 1 million VND/tael in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.
DOJI Group listed the price of gold rings at 138-142 million VND/tael (buying - selling), an increase of 700,000 VND/tael in both directions. The buying - selling difference is at 4 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at the threshold of 138.5-142.5 million VND/tael (buying - selling), an increase of 500,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 4 million VND/tael.
World gold price
At 9:00 AM, world gold prices were listed around the threshold of 4,100.3 USD/ounce, up 43 USD/ounce.
Gold price forecast
Gold prices are receiving support from the cooling down of US bond yields and signs that the world's largest labor market continues to slow down. However, short-term prospects may still fluctuate sharply as expectations for monetary policy of the US Federal Reserve (Fed) are not really stable.
The latest jobs report shows that the number of job positions in the US in June decreased to 7.36 million, lower than the adjusted 7.54 million of the previous month and did not meet market forecasts. The number of recruits, employees voluntarily quit their jobs and the number of cases of dismissal remained almost unchanged, showing that the job market is gradually cooling down instead of suddenly weakening.
This development is somewhat beneficial for gold. When labor demand decreases, the Fed may be more cautious before continuing to raise interest rates. Delaying monetary tightening will reduce pressure on bond yields and the opportunity cost of holding gold – an interest-free asset.
The sharp drop in oil prices also created more support for the precious metal. Brent oil retreated to around 79.36 USD/barrel, while WTI oil fell to nearly 75.77 USD/barrel. Cooling energy prices helped reduce inflation concerns, thereby pulling bond yields down. However, tensions related to the Strait of Hormuz showing signs of easing also partially reduced safe-haven demand.
In the opposite direction, the Fed still maintains a relatively tough stance after the meeting at the end of July. Improved US manufacturing activity and inflationary pressure not yet fully controlled make the market not rule out the possibility of further interest rate adjustments. The USD holding around the high zone may also limit the upward momentum of gold.
Technically, the 4,100 USD/ounce zone is the nearest resistance level. If maintained above this level, gold prices may head towards the resistance zone of 4,180-4,200 USD/ounce. A sustainable breakthrough can expand the target to about 4,350 USD/ounce.
Conversely, if profit-taking pressure increases, the 4,020-4,040 USD/ounce zone will play an important supporting role. Losing this area may cause gold prices to adjust to 3,950 USD/ounce, further to about 3,930 USD/ounce. In the short term, jobs data, inflation, bond yields and messages from the Fed will continue to determine the trend of the gold market.
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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