SJC gold bar price
Closing the week's trading session, Saigon SJC Jewelry Company listed SJC gold price at the threshold of 146.2-150.2 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.
Compared to the closing session of last week (May 31), the price of SJC gold bars at Saigon SJC Jewelry Company decreased by 9.8 million VND/tael in both buying and selling directions.
Meanwhile, DOJI listed SJC gold price at the threshold of 146.2-150.2 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.
Compared to the closing session of last week (May 31), SJC gold bar price at DOJI decreased by 9.8 million VND/tael in both buying and selling directions.
If buying SJC gold bars in the 31.5 session and selling them in today's session (June 7), buyers at Saigon SJC and DOJI Jewelry Company both lost 12.8 million VND/tael.
9999 gold ring price
At the same time, DOJI Group listed the price of gold rings at the threshold of 146.2-150.2 million VND/tael (buying - selling), down 9.8 million VND/tael in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.
Phu Quy Jewelry Group listed the price of gold rings at the threshold of 146.2-149.6 million VND/tael (buying - selling), down 9.3 million VND/tael on the buying side and down 8.9 million VND/tael on the selling side. The buying - selling difference is at 3.4 million VND/tael.
If buying gold rings in the 31.5 session and selling them in today's session (June 7), buyers at DOJI will lose 12.8 million VND/tael, while the loss when buying at Phu Quy is 12.3 million VND/tael.
World gold price
Closing the weekly trading session, world gold prices were listed at the threshold of 4,328 USD/ounce, down 210.3 USD compared to a week ago.
Gold price forecast
World gold prices closed the trading week in a state of deep decline, amid concerns about inflation, positive US jobs data and expectations of higher interest rates continuing to dominate investor sentiment.
In the past week, gold prices at times received support from geopolitical instability in the Middle East. However, this upward momentum is not enough to compensate for the pressure from the USD, US Treasury bond yields and signals that the US Federal Reserve (Fed) may maintain a tougher stance on monetary policy.
The US May jobs report showed that the economy created 172,000 jobs, significantly higher than forecast. This data caused market expectations of the Fed's ability to soon ease policy, even causing concerns about the risk of interest rate hikes in the near future to reappear. In that context, gold - an unprofitable asset - is under strong adjustment pressure.
Technically, gold prices have broken through the important support zone around the 200-day moving average. This development makes the short-term outlook less positive, especially when cautious sentiment increases after the sharp decline at the end of the week.
Mr. Phillip Streible - chief market strategist at Blue Line Futures - believes that pressure on precious metals comes not only from the US labor market. According to him, high oil prices due to tensions in the Middle East and food price pressure are making inflation a difficult issue to ignore for the Fed. This may continue to put pressure on gold and silver in the short term.
However, this expert believes that the current decline does not necessarily open up a prolonged downward trend. According to him, if considered in the long term, the fundamental factors of gold are still positive and adjustments may create buying opportunities for investors with suitable tastes.
Sharing a cautious but not pessimistic view, Ms. Eugenia Mykulak - founder and CEO of B2PRIME Group - said that the market is witnessing a tug-of-war between short-term selling pressure from investors and long-term strategic demand from countries. According to her, gold still plays an important reserve asset role, while central bank buying activities continue to be a long-term supporting factor.
Next week, the market will pay attention to US inflation data, including consumer price index and producer price index. If these figures show persistent price pressure, gold prices may continue to be under pressure in the short term.
Gold price data is compared to a week earlier.
See more news related to gold prices HERE...
