SJC gold bar price
As of 9:15 am, SJC gold bar prices were listed by DOJI Group at the threshold of 164.5-167.5 million VND/tael (buying - selling), unchanged 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), going sideways 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), unchanged 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 9:15 am, DOJI Group listed gold ring prices at the threshold of 164.5-167.5 million VND/tael (buying - selling), unchanged 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), going sideways 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 the threshold of 164.3-167.3 million VND/tael (buying - selling), unchanged in both buying and selling directions. The difference between buying and selling prices is at the threshold of 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 9:15 am, world gold prices were listed around the threshold of 4, 724.6 USD/ounce, up 18 USD compared to the previous day.
Gold price forecast
World gold prices maintained strong recovery momentum as inflation concerns cooled down after positive signals from negotiations between the US and Iran. The weakening USD and falling US bond yields also created more momentum for the precious metal.
According to analysts, the most important factor supporting gold at this time is the plunge of oil prices. WTI oil prices fell more than 3 USD/barrel, to around 91.85 USD/barrel, while Brent oil retreated below 98 USD/barrel, as the market expects the US and Iran to reach an agreement to help resume oil transportation through the Strait of Hormuz.
Mr. Fawad Razaqzada - market analyst at City Index - said that the developments of crude oil are directly affecting interest rate expectations and gold prices.
Everything is currently revolving around oil prices. When oil prices fall, bond prices usually rise, pulling yields down because investors reduce expectations that central banks will continue to raise interest rates. That supports gold and silver," he said.
The USD is currently fluctuating near its lowest level in more than two months, making gold more attractive to investors holding other currencies. At the same time, the yield of 10-year US government bonds also fell back to around 4.3%, reducing the opportunity cost of holding gold.
Some recent US economic data shows that the labor market remains relatively stable. The number of initial jobless claims in the week ending May 2 was 200,000, lower than analysts' forecast of 205,000.
However, the market still believes that the Fed does not have many reasons to continue to raise interest rates sharply in the context of inflationary pressure easing thanks to falling energy prices. According to CME Group's FedWatch tool, the probability of the Fed raising interest rates by the end of this year has decreased to about 12%.
Investors are currently focusing on the US non-farm payroll report to be released later this week to further assess the monetary policy outlook of the Fed.
From a technical perspective, many experts believe that gold is expanding its recovery momentum after a period of strong fluctuations at the beginning of the week. According to Kitco, the important resistance zone of gold prices is in the range of 4,754-4,775 USD/ounce. If it crosses this zone, the precious metal may head towards the 4,820-4,850 USD/ounce mark in the short term.
Conversely, the nearest support zone for gold is currently around 4,684 USD/ounce. If this level is lost, gold prices may fall further back to the zones of 4,650 USD/ounce or 4,615 USD/ounce.
Gold price data is compared to the previous day.
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