Updated gold price at the end of session 16.4: Increased by 8 million VND/tael

    Phan Anh |

    Updated gold price at the end of the session on September 16: The precious metal market today recorded a breakthrough increase.

    Updated SJC gold price

    As of 7:45 p.m., the price of SJC gold bars was listed by Saigon Jewelry Company at VND113-125.5 million/tael (buy - sell); increased by VND7.5 million/tael for buying and increased by VND7.7 million/tael for selling. The difference between buying and selling prices is at 2.5 million VND/tael.

    At the same time, DOJI Group listed the price of SJC gold bars at 113-115.5 million VND/tael (buy - sell); increased by 7.5 million VND/tael for buying and increased by 7.7 million VND/tael for selling. The difference between buying and selling prices is at 2.5 million VND/tael.

    Dien bien gia vang mieng nhung phien giao dich gan day. Bieu do: Phan Anh
    Gold bar price developments in recent trading sessions. Chart: Phan Anh

    Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 112.5-115.5 million VND/tael (buy - sell); increased by 7 million VND/tael for buying and increased by 7.7 million VND/tael for selling. The difference between buying and selling prices is at 3 million VND/tael.

    9999 round gold ring price

    As of 7:50 p.m. today, the price of Hung Thinh Vuong 9999 round gold rings at DOJI was listed at 110.5-113.5 million VND/tael (buy - sell); an increase of 7.3 million VND/tael for buying and an increase of 7 million VND/tael for selling. The difference between buying and selling prices is at 3 million VND/tael.

    Dien bien gia vang nhan nhung phien gan day. Bieu do: Phuong Anh
    Gold ring price developments in recent sessions. Chart: Phan Anh

    Bao Tin Minh Chau listed the price of gold rings at 112-115 million VND/tael (buy - sell); an increase of 7.9 million VND/tael for buying and an increase of 8 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 7:12 p.m., the world gold price was listed at 3,306.2 USD/ounce, up 88.9 USD.

    Dien bien gia vang the gioi nhung phien giao dich gan day. Bieu do: Phan Anh
    World gold price developments in recent trading sessions. Chart: Phan Anh

    Gold price forecast

    Gold prices hit a record high on Wednesday as the US dollar weakened, trade tensions escalated and concerns about global economic growth boosted demand for safe-haven assets.

    Trade tensions between the US and China escalated when Nvidia (NVDA.O) announced on Tuesday that it will suffer a loss of 5.5 billion USD after the US government limits the export of H20 artificial intelligence chips to China.

    China has asked its airlines not to accept additional Boeing (BA.N) orders as a reaction to the US imposing a 145% tariff on Chinese goods.

    In another development, the World Gold Council (WGC) said that the Chinese gold market is strong as prices and investment demand increase, while imports and demand for gold jewelry decrease.

    The Chinese gold market showed significant strength in March and the first quarter, with domestic gold prices reaching record highs and capital flows into gold ETFs increasing, along with the Central Bank continuing to buy. However, the increase in gold prices continues to reduce demand for imports and gold jewelry, according to Ray Jia - Head of China Research Department of WGC.

    Jia said gold prices will continue to increase strongly in March 2025, reaching a record high in China and internationally.

    "geopolitical tensions and US President Donald Trump's trade policies have increased the appeal of gold as a safe-haven asset," he said.

    Note: The article data compares with the same time of the previous trading session.

    See more news related to gold prices HERE...

    Phan Anh
    TIN LIÊN QUAN
    Artwork: Phan Anh

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    Ảnh minh họa: Phan Anh

    Record high gold price in China, ETF capital flows have unprecedented high levels

    Phan Anh (Theo Kitco) |

    The Chinese gold market reached a record level thanks to the strong ETF capital, but the high gold price reduced the need for imports and jewelry.

    Gold price receives support due to weak dollars and tariff tensions

    Phan Anh (Theo Reuters) |

    Gold prices are supported by safe shelter due to concerns about the tariff policy and the weakness of the dollar.

    Gold prices dropped when the US exempted taxes for technology goods

    Phan Anh (Theo Reuters) |

    The US exemption for technology goods makes the psychology of risk increasing, the need to hide in gold weakened, pulling the price of gold and losing momentum clearly even though it has just set a record peak.