Gold ring prices have fallen across the board.

SJC gold bar price

Saigon Jewelry Company (SJC) listed the price of SJC gold at 74.98-76.98 million VND/ounce (buying price - selling price). Thus, compared to yesterday's closing price, the price of SJC gold remains unchanged.

Domestic gold bar prices continue to remain stable. The price of SJC gold bars sold by the four state-owned commercial banks, including Agribank , BIDV, Vietcombank, and VietinBank, remains unchanged at 76.98 million VND/ounce.

Price of 9999 gold rings

Meanwhile, the price of gold rings saw a slight downward adjustment. Specifically, the price of SJC 9999 gold rings decreased by 100,000 VND in both buying and selling prices compared to the previous closing session, to 73.85 million VND/ounce for buying and 75.45 million VND/ounce for selling.

Similarly, the price of plain gold rings at Bao Tin Minh Chau was also adjusted down by 100,000 VND for both buying and selling, to 74.56 million VND/ounce for buying and 75.86 million VND/ounce for selling, respectively.

Mi Hong Company's 999 gold rings are listed at 73.85 - 75.15 million VND/ounce for buying and selling, a decrease of 100,000 VND in both directions.

Gold price forecast

As of 10:00 AM on June 27th, world gold prices reversed course and fell, with spot gold declining by $21.7 to $2,298.8 per ounce. The US Dollar Index, which measures the fluctuations of the US dollar against six major currencies, rose 0.45%, reaching 106.05.

The sharp rise in the US Dollar Index has diminished the appeal of gold to buyers holding other currencies, causing gold to lose 1% to its lowest level in nearly two weeks, as investors await the Federal Reserve's preferred inflation index report for the latest clues on the central bank's interest rate cut prospects.

FXTM's senior research analyst, Lukman Otunuga, believes that the gold market saw declines due to pressure from hawkish comments from Fed officials in the previous session, coupled with the recovery of the US dollar.

Federal Reserve Chair Michelle Bowman reiterated earlier this week that keeping policy interest rates unchanged “for some time” may be sufficient to control inflation. She also stressed the possibility of raising interest rates if necessary.

Otunuga predicts that gold prices could experience significant volatility in the remaining days of the week. The first live debate between US President Joe Biden and former President Donald Trump and the PCE report could further increase the precious metal's volatility. In the short term, support for the precious metal is at $2,300 per ounce and resistance at $2,340 per ounce.

Source: https://laodong.vn/tien-te-dau-tu/gia-vang-hom-nay-276-vang-nhan-dong-loat-giam-1358267.ldo