Update SJC gold price
After a long period of moving sideways, the price of SJC gold bars at DOJI adjusted sharply to increase the buying direction and keep the selling direction unchanged.
This causes the difference between buying and selling gold bars at this unit to decrease to 980,000 VND/tael. This also helps reduce the risk of failure for investors.
Round gold ring price 9999
As of 6:30 p.m. today, the price of 9999 Hung Thinh Vuong round gold ring at DOJI was listed at 76.45-77.70 million VND/tael (buy - sell); increased by 200,000 VND/tael both ways.
Saigon Jewelry Company lists the price of gold rings at 75.98-76.88 million VND/tael (buy - sell); increased 430,000 VND/tael of purchased afternoon tea and increased 30,000 VND/tael of sold afternoon tea.
Bao Tin Minh Chau listed the gold ring price at 76.33-77.63 million VND/tael (buy - sell); increased by 150,000 VND/tael for both buying and selling directions.
In recent sessions, gold ring prices often fluctuate in the same direction as the world market. Investors can refer to world markets and expert opinions before making investment decisions.
World gold price
As of 6:30 p.m. today, the world gold price listed on Kitco was at 2,470.9 USD/ounce, an increase of 32.7 USD/ounce.
Gold price forecast
World gold prices increased in the context of a sharp decline in the USD index. Recorded at 6:00 p.m. on July 17, the US Dollar Index measuring the fluctuation of the greenback with 6 major currencies was at 103,437 points (down 0.5%).
World gold prices hit a record high as expectations of a US interest rate cut in September increased following recent comments by US Federal Reserve (FED) officials.
Mr. Tim Waterer - chief market analyst of trading company KCM Trade, said gold prices reached a new high when investors expected the possibility of lowering interest rates. He predicts the next immediate gold price target is $2,500 an ounce, although if current momentum continues, gold prices could go even further before the end of the year.
This expert added that buying gold for safe-haven purposes may increase again due to the US elections and global geopolitical risks.
Fed Chairman Jerome Powell recently said recent inflation figures "contribute to increased confidence" that price growth is returning steadily to the Fed's target level, suggesting a reduction Interest rates may not be far away. Fed Governor Adriana Kugler also recently expressed cautious optimism that inflation is returning to the Fed's 2% target level.
Besides, one factor supporting gold prices is that China, the leading gold consuming country, is expected to still have strong gold buying demand despite the pause in May and June, in the context of The country's gold holdings are low and global tensions are increasing.
In the other precious metals market, silver prices fell 2.1% to 30.73 USD/ounce, while platinum prices fell 0.3% to 997.27 USD/ounce.
