SJC gold bar price

9999 gold ring price

As of 6:00 a.m., the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 76.40-77.55 million VND/tael (buy - sell), unchanged.

Saigon Jewelry Company listed the price of gold rings at 76.25-77.55 million VND/tael (buy - sell), an increase of 100,000 VND/tael for buying and unchanged for selling.

Bao Tin Minh Chau listed the price of gold rings at 76.28-77.48 million VND/tael (buy - sell), down 40,000 VND/tael for both buying and selling.

In recent sessions, the price of gold rings has often fluctuated in the same direction as the world market. Investors can refer to the world market and expert opinions before making investment decisions.

World gold price

As of 6:00 a.m. on August 6, the world gold price listed on Kitco was at 2,408.9 USD/ounce, down sharply by 34.2 USD/ounce compared to early yesterday morning.

Gold Price Forecast

World gold prices plummeted despite the decline in the USD index. Recorded at 6:00 a.m. on August 6, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 102.525 points (down 0.45%).

Gold prices “plummeted” at the beginning of the week, said to be due to strong selling pressure on the precious metal as investors continued to sell gold to compensate for losses in the stock market.

Stocks were roiled late last week as recession fears spread following a disappointing jobs report. The S&P 500 fell nearly 4%, with much of the sell-off occurring on Thursday and Friday. The Nasdaq ended the week down nearly 5% from its high, officially entering bear territory.

Experts say gold will not be able to fall deeply and may quickly turn around and increase again, as a series of recent economic data supports the precious metal.

The US economy is showing signs of falling into recession. According to the US Bureau of Labor Statistics, the US economy created only 114,000 jobs last month, much lower than economists' forecasts of about 176,000 jobs. At the same time, the unemployment rate jumped to 4.3% from 4.1% recorded in June.

The above information has prompted the US Federal Reserve (FED) to cut interest rates soon. Some economists predict that the FED will be forced to cut interest rates more drastically to support the stagnant economy.

Gold bulls are right to worry that the Fed needs weaker inflation data before it decides to cut interest rates, said Tai Wong, an independent metals trader in New York.

Meanwhile, StoneX analyst Rhona O'Connell said the precious metal could face resistance at its previous high of $2,484 an ounce. However, geopolitical tensions and concerns about whether the Fed will be slow to act on monetary policy will support gold prices.