SJC gold bar price
As of 9:00 AM, SJC gold bar prices were listed by DOJI Group at the threshold of 164.5-167.5 million VND/tael (buying - selling), an increase of 2.5 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.
Bao Tin Minh Chau listed at the threshold of 164.5-167.5 million VND/tael (buying - selling), an increase of 2.5 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.
Phu Quy Jewelry Group listed SJC gold bar prices at the threshold of 164.5-167.5 million VND/tael (buying - selling), an increase of 2.5 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.
9999 gold ring price
As of 9:00 AM, DOJI Group listed the price of gold rings at the threshold of 164.5-167.5 million VND/tael (buying - selling), an increase of 2.5 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.
Bao Tin Minh Chau listed at the threshold of 164.5-167.5 million VND/tael (buying - selling), an increase of 2.5 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.
Phu Quy Gold and Gems Group listed the price of gold rings at 164-167 million VND/tael (buying - selling), an increase of 2 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.
Currently, the buying - selling price difference of gold is at a very high level, around 3 million VND/tael, posing a risk of losses for investors.
World gold price
At 9:00 AM, world gold prices were listed around the threshold of 4, 624.6 USD/ounce, up 79.4 USD compared to the previous day.
Gold price forecast
World gold prices recovered in the latest trading session after a strong sell-off at the beginning of the week, as bottom-fishing buying power reappeared amid cooling oil prices and US stocks continuing to hit peaks.
However, analysts believe that the precious metal market still faces a lot of pressure as inflation remains high and expectations of interest rate cuts by the US Federal Reserve (Fed) continue to be pushed back.
Spot gold prices at times rose around 4,557 USD/ounce, while spot silver fluctuated near 73.7 USD/ounce. Gold's recovery took place after crude oil reduced its previous hot increase, helping market sentiment become more stable.
Recent US economic data shows that the picture is not weak enough for the Fed to soon ease monetary policy. The ISM service PMI index in April slightly decreased to 53.6 points but is still above the 50 point mark - a level showing that economic activity continues to expand.
Meanwhile, the price index in the ISM survey remained at its highest level since October 2022, reflecting that inflationary pressure has not decreased significantly.
The yield on 10-year US Treasury bonds has fallen to around 4.42%-4.43%, but is still much higher than before the Iranian conflict broke out. This continues to be a factor putting pressure on gold because the precious metal does not bring yields.
Investors are currently focusing their attention on the ADP jobs report and the US non-farm payrolls released this weekend to find more signals about the health of the labor market and the monetary policy orientation of the FED.
From a technical perspective, many experts believe that gold is trying to stabilize again after a deep drop at the beginning of the week. If it surpasses the resistance zone of 4,568-4,629 USD/ounce, gold prices may head towards the 4,670-4,720 USD/ounce zone. Conversely, if it loses the support level of 4,503 USD/ounce, the precious metal is at risk of falling further to 4,485 USD/ounce or 4,450 USD/ounce.
Meanwhile, the World Gold Council (WGC) said that central banks net sold 30 tons of gold in March. Turkey and Russia were the two countries with the strongest sales, while Poland, Uzbekistan, Kazakhstan and China continued to buy more gold reserves.
Despite fluctuating gold buying demand from central banks, Mr. John LaForge - chief strategist at Ned Davis Research - still believes that gold continues to play an important role in long-term investment portfolios. According to him, gold has the ability to diversify risks and often plays a role in periods of unstable financial markets or reduced confidence in the monetary system.
Gold price data is compared to the previous day.
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