Update SJC gold price
As of 6:00 p.m., the price of SJC gold bars was listed by DOJI Group at 80-82 million VND/tael (buy - sell).
Compared to the beginning of the previous trading session, gold price at DOJI increased by 200,000 VND/tael for both buying and selling.
The difference between buying and selling price of SJC gold at DOJI Group is at 2 million VND/tael.
Meanwhile, Saigon Jewelry Company listed the price of SJC gold at 80-82 million VND/tael (buy - sell).
Compared to the beginning of the previous trading session, the gold price at Saigon Jewelry Company SJC increased 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 6:00 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 79.3-80.4 million VND/tael (buy - sell), a sharp increase of 1.2 million VND/tael in both directions.
Bao Tin Minh Chau listed the price of gold rings at 79.28-80.38 million VND/tael (buy - sell), an increase of 1.2 million VND/tael for both buying and selling.
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 6:15 p.m., the world gold price listed on Kitco was at 2,612.5 USD/ounce, up 26.3 USD/ounce.
Gold Price Forecast
World gold prices broke records amid a downward trend in the USD index. Recorded at 6:00 p.m. on September 20, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 100,560 points.
Gold prices rose sharply after the US Federal Reserve (FED) cut lending rates for the first time since the COVID-19 pandemic. The FED's decision to cut interest rates is the start of a broader monetary policy easing cycle by the US Central Bank. The FED's move opens up expectations for 1-2 more interest rate cuts this year.
Adam Button, head of currency strategy at Forexlive, said that based on recent economic developments in the US, the Fed is likely to cut rates by another 25 basis points in November and December.
Historically, interest rate cutting cycles have driven higher investor demand for gold, but this time, central bank demand, especially from China and India, has been strong, giving the gold market an advantage over other investment avenues, said Robert Minter, chief investment strategist at Abrdn.
After the Fed, market attention turned to the Bank of Japan (BoJ), which decided to keep interest rates unchanged at a meeting on the same day. The BoJ meeting came just hours after data showed the consumer price index (CPI) rose to 2.8% in August, as expected.
