Update SJC gold price
As of 8:00 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 8:00 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 82.75-83.45 million VND/tael (buy - sell), an increase of 250,000 VND/tael for buying and an increase of 200,000 VND/tael for selling.
Bao Tin Minh Chau also adjusted the price of plain round gold rings to increase to 82.54-83.44 million VND/tael (buy - sell), an increase of 310,000 VND/tael for buying and an increase of 110,000 VND/tael for 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 7:55 p.m., the world gold price listed on Kitco was at 2,671.1 USD/ounce, up 2 USD/ounce compared to the closing price yesterday afternoon.
Gold Price Forecast
World gold prices hit a record high amid a weakening USD index. At 7:55 p.m. on September 27, the US Dollar Index, which measures the greenback's movements against six major currencies, stood at 99.980 points (down 0.27%).
According to Kitco, gold prices increased as the market received more economic stimulus measures from China. Safe-haven demand is supporting the precious metal.
China has pledged to stabilize its property sector and add more fiscal stimulus after the People's Bank of China (PBOC) announced its biggest monetary stimulus package since the COVID-19 pandemic earlier this week.
The latest announcement also comes amid speculation that China will miss its 5% GDP growth target this year. China has pledged to issue and use government bonds to support investment.
Many investors are now expecting upcoming comments from Federal Reserve Chairman Jerome Powell and upcoming US inflation data to prompt another 50 basis point cut this year.
According to the FedWatch tool - CME, traders expect a 54.1% chance that the FED will cut interest rates by another 50 basis points at the next FED meeting.
Expressing an optimistic view, Blue Line Futures market strategist Phillip Streible predicted that gold could conquer the $2,700/ounce mark this week if the labor market weakens and FED officials reaffirm a 50 basis point cut at the upcoming meeting.
Meanwhile, Han Tan, a market analyst at Exinity Group, said that the recent strong increase in gold prices was due to market optimism and the Fed's decision to further cut interest rates. He said that gold would not face many obstacles to reaching $2,700/ounce by the end of 2024.
