Update SJC gold price
As of 5:00 p.m., DOJI Group listed the price of SJC gold at 80-82 million VND/tael (buy - sell).
Compared to the closing price of last week's trading session, gold price at DOJI increased by 1.5 million 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 VND/tael (buy - sell).
Compared to the closing price of last week's trading session, the gold price at Saigon Jewelry Company SJC increased by 1.5 million 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.
Last week, SJC gold price increased sharply, however the high difference between buying and selling gold caused investors to suffer losses.
If you buy gold at DOJI Group on September 15 at VND80.5 million/tael and sell it today (September 22), you will lose VND500,000/tael. Similarly, those who buy gold at Saigon Jewelry Company SJC will also lose VND500,000/tael.
Currently, the difference between the buying and selling price of gold is listed at around 2 million VND/tael. Experts say that this difference is very high, causing investors to face the risk of losing money when investing in the short term.
Price of round gold ring 9999
As of 5:00 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 79.4-80.55 million VND/tael (buy - sell); an increase of 1.5 million VND/tael for buying and an increase of 1.45 million VND/tael for selling compared to the closing price of last week's trading session.
Saigon Jewelry Company listed the price of gold rings at 78.9-80.2 million VND/tael (buy - sell); an increase of 1.1 million VND/tael for both buying and selling compared to the closing price of the previous trading session.
Bao Tin Minh Chau listed the price of gold rings at 79.39-80.54 million VND/tael (buy - sell); an increase of 1.51 million VND/tael for buying and 1.46 million VND/tael for selling compared to the closing price of last week's trading session.
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 5:00 p.m., the world gold price listed on Kitco was at 2,622.2 USD/ounce, up 44.5 USD/ounce compared to the closing price of last week's trading session.
Gold Price Forecast
World gold prices increased despite the increase in the USD index. Recorded at 5:00 p.m. on September 22, the US Dollar Index, which measures the fluctuations of the greenback against 6 major currencies, was at 100,420 points (up 0.1%).
The latest Kitco News weekly gold survey shows investors are bullish on gold prices next week, while industry experts are evenly split between bullish and bearish views in the short term.
This week, 19 analysts participated in the Kitco News gold survey, and the majority see gold prices rising or at least trading sideways. Nine analysts see gold prices rising next week, while eight see it trading sideways. Only two see gold trading lower next week.
Meanwhile, 189 votes were cast in Kitco’s online poll, with most Main Street investors returning to their bullish outlook. 129 retail traders expect gold prices to rise next week, while 29 see gold trading lower. The remaining 31 respondents see prices moving sideways next week.
Adrian Day - Chairman of Adrian Day Asset Management is one of the experts who predicts positively about gold prices next week: "Currently, the gold price increase seems unstoppable, although there will be times of pause or retreat."
Agreeing, Colin Cieszynski - Chief Market Strategist at SIA Wealth Management - said he remains bullish on gold next week: "After hitting a new record high, technically it looks like a new rally may have begun."
On the other hand, Mark Leibovit, publisher of VR Metals/Resource Letter, and StoneX Bullion market analyst Fawad Razaqzada expect gold prices to fall next week. However, Fawad Razaqzada remains optimistic about gold prices in the long term.
“Technically, gold remains in a strong uptrend. However, be wary of profit-taking and short-term reversal signals as indicators are pointing to overbought conditions,” said Fawad Razaqzada.
Marc Chandler, CEO of Bannockburn Global Forex, said that the precious metal is likely to move sideways next week. The expert said that next week, gold prices will be quieter, possibly due to some investors taking profits when the precious metal is stuck at a record high.
