SJC gold bar price
Price of 9999 gold rings
As of 6:00 AM, the price of 9999 Hung Thinh Vuong gold rings at DOJI was listed at 76.10-77.30 million VND/ounce (buying price - selling price); an increase of 350,000 VND/ounce in the buying price and an increase of 300,000 VND/ounce in the selling price.
Saigon Jewelry Company listed the price of gold rings at 75.95-77.3 million VND/ounce (buying price - selling price); a sharp increase of 350,000 VND/ounce for the buying price and 300,000 VND/ounce for the selling price.
Bao Tin Minh Chau listed the price of gold rings at 76.28-77.28 million VND/ounce (buying price - selling price); an increase of 450,000 VND/ounce for the buying price and an increase of 250,000 VND/ounce for the selling price.
In recent sessions, the price of gold rings has often fluctuated in the same direction as the global market. Given the sharp increase in global gold prices early this morning, the price of gold rings may rise significantly in today's trading session (August 1st).
World gold prices
As of 6:00 AM on August 1st, the world gold price listed on Kitco was at $2,434 per ounce, a sharp increase of $26 per ounce compared to the beginning of yesterday morning's trading session.
Gold price forecast
Global gold prices surged amid a decline in the US dollar index. At 2:00 AM on August 1st, the US Dollar Index, which measures the fluctuations of the greenback against six major currencies, stood at 103.847 points (down 0.44%).
Gold prices rose sharply following the announcement of the US monetary policy decision from the Federal Open Market Committee (FOMC) of the Federal Reserve. As many experts expected, the committee kept the federal funds rate unchanged in the range of 5.25% to 5.50%.
In other news, the Bank of Japan raised its benchmark interest rate from 0% to 0.25% on Wednesday. The BOJ also announced it would halve the amount of government bonds it purchases. This news boosted the yen against the dollar.
Tighter monetary policy in Japan, combined with the possibility of upcoming US interest rate cuts this year, has shifted investment flows, putting pressure on the USD and supporting gold prices.
Precious metals also benefit from buying into safe-haven assets as geopolitical tensions tend to escalate.
In addition, Ole Hansen, head of Commodity Strategy at Saxo Bank, noted that even if gold loses all of its 2024 gains, the precious metal will continue to shine as ETF investors are showing renewed interest in gold.
Source: https://laodong.vn/tien-te-dau-tu/cap-nhat-gia-vang-sang-18-vang-nhan-co-the-tang-vot-1374318.ldo
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