SJC Gold Price
At 9h, SJC gold price was listed by DOJI Group at 77-79 million VND per tael (buying - selling). Compared to the previous trading session, DOJI's gold price remained unchanged.
The price difference between buying and selling SJC gold at DOJI is 2 million VND per tael. This price difference is quite high, posing a risk of loss for investors.
In contrast, Sài Gòn SJC Gold Company listed SJC gold price at 77-79 million VND per tael (buying - selling). The price difference between buying and selling SJC gold at Sài Gòn SJC Gold Company is also 2 million VND per tael.
9999 Gold Bar Price
As of 9h, the price of 9999 Hưng Thịnh Vượng gold bar at DOJI Group was listed at 76.10-77.30 million VND per tael (buying - selling); down 150,000 VND per tael for both buying and selling.
Sài Gòn Gold Company listed the price of 9999 gold bar at 75.8-77.3 million VND per tael (buying - selling); down 350,000 VND per tael for buying and 150,000 VND per tael for selling.
Bảo Tín Minh Châu listed the price of 9999 gold bar at 76.08-77.28 million VND per tael (buying - selling); down 200,000 VND per tael compared to the previous trading session.
In recent sessions, the price of 9999 gold bar has often fluctuated in the same direction as the global market. Investors can refer to the global market and expert opinions before making investment decisions.
Global Gold Price
As of 9h45, the global gold price was listed on Kitco at 2,385.1 USD per ounce; down 26.5 USD per ounce compared to the previous trading session.
Gold Price Forecast
The global gold price decreased when the US Dollar Index increased. At 9h45 on August 6, the US Dollar Index, which measures the fluctuation of the US dollar against 6 major currencies, was at 102.987 points (up 0.22%).
However, experts believe that the decline in gold has been limited due to expectations of a rate cut by the Federal Reserve in September and concerns about escalating geopolitical tensions in the Middle East.
Amelia Xiao Fu, head of the commodities market at BOCI, assessed that gold still has some weaknesses mainly due to the strength of the US dollar, but the macroeconomic environment for gold is relatively positive. Specifically, FED policymakers have rejected the view that weak July employment data means the economy is in a free fall, but also warned that interest rates need to be cut to avoid that.
In the meantime, Fawad Razaqzada, a market analyst at Forex.com, noted that investors expect central banks to cut interest rates, which will limit the potential for gold price decline, if not push it to a new all-time high. He also expects gold to reach 2,500 USD in the short term.
Recently, gold ETFs have increased their gold purchases. Central banks have continued to increase their gold reserves, making it difficult for the precious metal to fall sharply.
