Gold bullion prices surge and break through resistance levels.

Price of 9999 pure gold ring

As of 6 PM today, the price of 9999 Hung Thinh Vuong plain gold rings at DOJI is listed at 76.40-77.65 million VND/ounce (buying price - selling price).

Saigon Jewelry Company listed the price of gold rings at 76.2-77.55 million VND/ounce (buying price - selling price).

Bao Tin Minh Chau listed the price of gold rings at 76.43-77.63 million VND/ounce (buying price - selling price).

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

World gold prices

As of 6 PM today, the world gold price listed on Kitco is at $2,434.1 per ounce, an increase of $66 per ounce compared to the close of last week's trading session. However, the precious metal is showing a downward trend.

Gold price forecast

Global gold prices edged lower this afternoon amid a rise in the US dollar index. At 6 PM, the US Dollar Index, which measures the dollar's fluctuations against six major currencies, stood at 104.130 points (up 0.26%).

Gold prices rose after the two-day policy meeting, in which the US Federal Reserve (FED) decided to maintain its benchmark interest rate at 5.25-5.5%, as expected by the market.

Furthermore, Fed Chairman Jerome Powell has rekindled investor hopes for a possible shift in monetary policy at the September meeting. He stated that policymakers are increasingly confident that inflation is moving toward the 2% target.

On July 31, Jerome Powell said the Fed could lower interest rates in September if the US economy proceeds as planned, bringing the central bank near the end of its fight against inflation, which has lasted more than two years.

Peter Fung, trading director at Wing Fung Precious Metals, believes that gold maintains its upward trend and could reach $2,500 per ounce this year, as the Fed lowers interest rates.

Senior market strategist Bob Haberkorn at RJO Futures believes that the Fed's interest rate cuts, coupled with geopolitical risks in the Middle East, could push gold prices up to $2,700 per ounce.

The market's focus is shifting to the US jobs report, which will be released on August 2nd.

In other precious metals markets, spot silver prices fell 0.4% to $28.92 per ounce, while platinum prices declined 0.4% to $972.35 per ounce.