Gold rings are almost equal to the price of SJC gold bars.

Photo: Phan Anh

Update SJC gold price

Domestic SJC gold price closed on June 28, 2024.

Domestic gold price developments. Chart: Khuong Duy

Price of 9999 round gold ring

As of 8:00 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 74.65-75.90 million VND/tael (buy - sell).

Saigon Jewelry Company listed the price of gold rings at 73.95-75.55 million VND/tael (buy - sell).

Bao Tin Minh Chau listed the price of gold rings at 74.56-75.86 million VND/tael (buy - sell).

World gold price

As of 8:00 p.m. today, the world gold price listed on Kitco was at 2,337.7 USD/ounce.

Update world gold price. Screenshot

Gold price forecast

World gold prices fell amid a rising USD index. Recorded at 8 p.m. on June 28, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, stood at 105,557 points (down 0.01%).

Ms. Michelle Bowman, a member of the Board of Governors of the US Federal Reserve, said that the FED keeping interest rates unchanged for a longer period of time could be enough to control inflation, and the FED could even increase interest rates further if inflation continues to rise.

Investors largely expect about two rate cuts this year, although the bank only forecasts one, according to LSEG's FedWatch data. Lower interest rates reduce the opportunity cost of holding gold.

Meanwhile, Mr. Phillip Streible, Chief Market Strategist at Blue Line Futures, said: "Some new economic data is supporting the gold market. Basically, US wholesale inventories in May 2024 were lower than expected. The final revised GDP growth in the first quarter of 2024 was significantly lower. Therefore, commodity futures prices are getting a boost from the falling USD index."

On the other hand, investors are now focusing on the US inflation report for May, which will be released later this month. They expect that after the report, the direction of gold will be clearer.

Although gold is struggling to hold the $2,300/ounce mark, recent research from State Street and the World Gold Council predicts that the precious metal is attracting money managers and hedge funds.

State Street's Milling-Stanley has raised its gold price forecast for the second half of the year, projecting prices to range between $2,200 and $2,300 an ounce.

Source: https://laodong.vn/tien-te-dau-tu/cap-nhat-gia-vang-chot-phien-286-vang-nhan-gan-bang-gia-vang-mieng-sjc-1359188.ldo