Update SJC gold price
As of 6:30 p.m., DOJI Group listed the price of SJC gold bars at 79.8-81.8 million VND/tael (buy - sell).
Compared to the beginning of the previous trading session, gold price at DOJI decreased by 200,000 VND/tael for both buying and selling.
The difference between buying and selling prices of SJC gold at DOJI Group is at 2 million VND/tael.
Meanwhile, Saigon Jewelry Company listed the price of SJC gold at 79.8-81.8 million VND/tael (buy - sell).
Compared to the beginning of the previous trading session, the gold price at Saigon Jewelry Company SJC decreased by 200,000 VND/tael for both buying and selling.
The difference between buying and selling price of SJC gold at Saigon Jewelry Company is at 2 million VND/tael.
9999 round gold ring price
As of 6:30 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 78.1-79.2 million VND/tael (buy - sell).
Bao Tin Minh Chau listed the price of gold rings at 78.08-79.18 million VND/tael (buy - sell).
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 6:30 p.m., the world gold price listed on Kitco was at $2,586.2/ounce.
Gold Price Forecast
World gold prices increased in the context of the USD index tending to decrease. Recorded at 6:30 p.m. on September 19, the US Dollar Index measuring the fluctuations of the greenback against 6 key currencies was at 100.390 points (up 0.11%).
Gold prices fluctuated strongly after the US Federal Reserve (FED) started its monetary easing cycle with a 0.5 percentage point interest rate cut on September 18.
Fed Chairman Jerome Powell said the decision was a sign of policymakers’ commitment to maintaining low unemployment, as inflation cooled. Powell said the economy remained strong, with many labor market indicators not at worrying levels.
According to CME's FedWatch tool, the market is currently predicting a 65% chance that the Fed will cut interest rates by 0.25 percentage points at its November meeting and a 35% chance of cutting by 0.5 percentage points. The market is also waiting for data on the number of initial unemployment benefits in the US, scheduled to be announced at 7:30 p.m. (Vietnam time).
Gold prices are gradually absorbing the fluctuations after the Fed's interest rate decision, said Ilya Spivak, head of global macroeconomics at Tastylive.
Meanwhile, Kelvin Wong, senior market analyst for Asia-Pacific at OANDA, predicted that gold could hit a new high of $2,640-$2,700 an ounce this year, with weak economic data likely to be a catalyst for higher gold prices.
