Updated SJC gold price
As of 5:55 p.m., the price of SJC gold bars was listed by Saigon Jewelry Company at 100.6-103.6 million VND/tael (buy - sell); an increase of 900,000 VND/tael for buying and an increase of 1.7 million VND/tael for selling compared to early in the morning. The difference between buying and selling prices is at 3 million VND/tael.
At the same time, DOJI Group listed the price of SJC gold bars at 100.6-103.6 million VND/tael (buy - sell); an increase of 900,000 VND/tael for buying and an increase of 1.7 million VND/tael for selling compared to early in the morning. The difference between buying and selling prices is at 3 million VND/tael.
Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 100.6-103.6 million VND/tael (buy - sell); an increase of 800,000 VND/tael for buying and an increase of 1.7 million VND/tael for selling compared to early in the morning. The difference between buying and selling prices is at 3 million VND/tael.
9999 round gold ring price
As of 5:55 p.m. today, the price of Hung Thinh Vuong 9999 round gold rings at DOJI was listed at 100.2-103.2 million VND/tael (buy - sell); an increase of 500,000 VND/tael for buying and an increase of 1.3 million VND/tael for selling compared to early in the morning. The difference between buying and selling prices is at 3 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 100.7-103.7 million VND/tael (buy - sell); an increase of 800,000 VND/tael for buying and an increase of 1.7 million VND/tael for selling compared to early in the morning. The difference between buying and selling prices is at 3 million VND/tael.
World gold price
As of 6:00 p.m., the world gold price was listed at 3,120.4 USD/ounce.
Gold price forecast
According to Reuters, gold prices continued to increase on Thursday due to the intense trade war between the US and China. President Donald Trump decided to increase tariffs on imported goods from China from 104% to 125%, after the country imposed an 84% tariff on US goods.
Meanwhile, President Donald Trump's announcement of a 60-day moratorium on tariffs on other countries also contributed to the increase in gold prices. US gold futures increased 1.6% to $3,129.90/ounce.
Nitesh Shah - Commodity Strategist at WisdomTree - said: "We are living in an unstable world. We really cant predict where this trade war will go. I think gold will continue to rise throughout the year."
Minutes from last month's meeting of the US Federal Reserve (FED) showed that policymakers all believe that the US economy is facing the risk of high inflation and slowing growth. This could lead to "difficult decisions" for the Fed.
Investors are now paying close attention to the US consumer price index to assess the direction of the Fed's monetary policy. The market is currently predicting that the FED will cut interest rates by 84 basis points by the end of this year.
Gold is considered a safe asset in the context of geopolitical and economic instability and often thrives in a low interest rate environment. Spot gold has maintained its upward trend since last year and has increased by more than 18% this year.
"I think gold will reach $3,600/ounce in the next year with a strong chance of gains. I would not be surprised if gold prices hit $4,000 an ounce in the future," Nitesh Shah said.
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