Update SJC gold price
Round gold ring price 9999
As of 6pm today, the price of 9999 Hung Thinh Vuong plain round gold ring at DOJI was listed at 76.40-77.65 million VND/tael (buy - sell).
Saigon Jewelry Company lists gold ring prices at 76.2-77.55 million VND/tael (buy - sell).
Bao Tin Minh Chau listed the gold ring price at 76.43-77.63 million VND/tael (buy - sell).
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 6:00 p.m. today, the world gold price listed on Kitco was at 2,434.1 USD/ounce, an increase of 66 USD/ounce compared to last week's closing session. However, precious metals are on a downward trend.
Gold price forecast
World gold prices decreased slightly this afternoon in the context of an increase in the USD index. Recorded at 6:00 p.m., the US Dollar Index measuring the fluctuation of the greenback with 6 major currencies was at 104,130 points (up 0.26%).
Gold prices increased after a 2-day policy meeting, the US Federal Reserve (FED) decided to maintain the reference interest rate at 5.25-5.5%, as expected by the market.
In addition, FED Chairman Jerome Powell has aroused investors' hopes about the possibility of a monetary policy pivot at the September meeting. He said that policymakers are increasingly confident. believes that inflation is gradually approaching the 2% target.
Mr. Jerome Powell said on July 31 that the FED could lower interest rates in September if the US economy follows the expected path, bringing the central bank near the end of the war against inflation that has lasted more than two years.
Mr. Peter Fung - trading director at Wing Fung Precious Metals, said that gold still maintains an upward trend and could reach $2,500/ounce this year, when the FED lowers interest rates.
Senior market strategist Bob Haberkorn at RJO Futures said that the FED's interest rate cut along with geopolitical risks in the Middle East could potentially push gold prices up to 2,700 USD/ounce.
Market focus is shifting to the US jobs report to be released on August 2.
In the other precious metals market, spot silver prices decreased 0.4% to 28.92 USD/ounce, while platinum prices decreased 0.4% to 972.35 USD/ounce.
