Update SJC gold price
Price of round gold ring 9999
As of 6:00 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 77.5-78.65 million VND/tael (buy - sell); unchanged.
Bao Tin Minh Chau listed the price of gold rings at 77.48 - 78.63 million VND/tael (buy - sell), unchanged.
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 p.m., the world gold price listed on Kitco was at $2,514.6/ounce, down $3.6/ounce compared to the close of last week's trading session.
Gold Price Forecast
World gold prices fell slightly amid a recovery in the USD index. At 6:00 p.m. on September 12, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, stood at 101.677 points (up 0.2%).
Gold futures fell as inflation data changed expectations of a US Federal Reserve (FED) interest rate cut, according to Kitco.
The catalyst for this change in sentiment was the recently released Consumer Price Index (CPI) report from the U.S. Bureau of Labor Statistics. The report showed that inflation rose 2.5% year-over-year in August, slightly below the 2.6% consensus estimate forecast by MarketWatch. This marked a deceleration from July’s 2.9% annual rate, suggesting that inflationary pressures are easing.
However, the core CPI, which excludes volatile food and energy prices and is the Fed's preferred inflation measure, remained steady at 3.2% for the second straight month. This persistence in core inflation has led to a reassessment of expectations for the upcoming Federal Open Market Committee (FOMC) meeting.
The CME FedWatch tool, a gauge of market sentiment, reflected a significant shift in expectations following the CPI report. While the Fed still sees a rate cut as a certainty, the likelihood of a 50 basis point cut has diminished significantly.
There is now just a 15% chance of a 50 basis point cut, down from 34% yesterday and 44% a week ago. This adjustment suggests that market participants are now leaning toward a smaller 25 basis point rate cut at next week's FOMC meeting.
