Update SJC gold price
As of 5:45 p.m., the price of SJC gold bars listed by DOJI Group was at 81.5 - 83.5 million VND/tael (buy - sell).
Compared to the beginning of the previous trading session, gold prices at DOJI remained unchanged in both buying and selling directions.
The difference between buying and selling price of SJC gold at DOJI Group is at 2 million VND/tael.
Meanwhile, Bao Tin Minh Chau listed the price of SJC gold at 81.5 - 83.5 million VND/tael (buy - sell).
Compared to the beginning of the previous trading session, gold prices at Bao Tin Minh Chau remained unchanged in both buying and selling directions.
The difference between buying and selling price of SJC gold at Saigon Jewelry Company is at 2 million VND/tael.
Price of round gold ring 9999
As of 5:50 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 81.95-82.95 million VND/tael (buy - sell), an increase of 1.35 million VND/tael for buying and an increase of 1.3 million VND/tael for selling.
Bao Tin Minh Chau also adjusted the price of plain round gold rings to increase to 81.83-82.93 million VND/tael (buy - sell), an increase of 1.29 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 5:30 p.m., the world gold price listed on Kitco was at 2,656.4 USD/ounce, up 22.8 USD/ounce compared to the close yesterday afternoon.
Gold Price Forecast
World gold prices hit a record high amid a weakening USD index. Recorded at 5:55 p.m. on September 25, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 100.177 points.
According to Kitco, gold prices have hit record highs and show no signs of stopping. Many experts predict that this precious metal will continue to set new peaks in the near future.
Gold is seeing a strong rally following China's industry support measures, said analyst Vladimir Zernov at FX Empire.
Gold hit an all-time high on Tuesday after the People's Bank of China (PBOC) cut lending rates and reduced the reserve requirement ratio for commercial banks in an effort to boost the country's slowing economy.
This expert predicts that if the gold price stabilizes above $2,650/ounce, the future will move towards the threshold of $2,700/ounce.
Meanwhile, Mike McGlone - senior commodity strategist at Bloomberg Intelligence commented: "Gold reaching $3,000/ounce is just a matter of time.
Hedge funds are positioning themselves to buy, reflecting their belief in the staying power of the precious metal. Hedge funds are net longs of about 40% in gold futures,” McGlone said in an interview with Kitco News.
According to Nieuwenhuijs - gold analyst at Money Metals, the massive gold buying by many countries, especially from the East, has broken the correlation between stocks and gold.
The expert added that the Chinese and Saudi central banks (PBOC and SAMA) were largely responsible for the gold price rally starting in 2022. "Both have significantly increased their gold purchases after the West froze part of Russia's foreign exchange reserves," Nieuwenhuijs said.
