Updated gold price at the end of the session on September 29: Heavy losses when surfing

SJC gold bar price

At the end of the trading session of the week, Saigon Jewelry Company SJC listed the price of SJC gold at 117.2-119.2 million VND/tael (buy in - sell out).

Compared to the closing price of the previous trading session (June 22, 2025), the price of SJC gold bars at Saigon Jewelry Company SJC decreased by 500,000 VND/tael in both directions.

The difference between the buying and selling prices of SJC gold at Saigon Jewelry Company SJC is at 2 million VND/tael.

Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 117.2-119.2 million VND/tael (buy in - sell out). Compared to a week ago, the price of SJC gold bars was adjusted by Bao Tin Minh Chau down by 500,000 VND/tael in both directions. The difference between buying and selling prices is at 2 million VND/tael.

If buying SJC gold at Bao Tin Minh Chau and Saigon Jewelry Company SJC on June 22 and selling it today (6,6 29), buyers will lose 2.5 million VND/tael.

9999 gold ring price

This morning, Bao Tin Minh Chau listed the price of gold rings at 114.1-117.1 million VND/tael (buy - sell); down 400,000 VND/tael in both directions compared to a week ago. The difference between buying and selling is at 3 million VND/tael.

Phu Quy Gold and Stone Group listed the price of gold rings at 113.1-116.1 million VND/tael (buy - sell), down 400,000 VND/tael in both directions compared to a week ago. The difference between buying and selling is 3 million VND/tael.

If buying gold rings in the session of June 22 and selling in today's session (6, 29), buyers at Bao Tin Minh Chau and Phu Quy will both lose 3.4 million VND/tael.

World gold price

At the end of the trading session of the week, the world gold price listed on Kitco was at 3,272.7 USD/ounce USD/ounce, down sharply by 94.4 USD/ounce compared to the closing price of the previous trading session.

Gold price forecast

A weekly survey on gold price trends by an organization that monitors the precious metals market shows that experts are increasingly leaning towards the possibility of price decline in the short term. On the contrary, the group of individual investors still maintains a cautious optimistic view.

This week, out of 17 Wall Street experts surveyed, 6 (35%) predict gold prices will recover, 9 (53%) believe prices will continue to decrease, and 2 (12%) expect prices to remain flat.

In addition, Kitco's online survey attracted 233 individual investors to participate. Of these, 119 people (51%) expect prices to increase, 63 people (27%) expect prices to decrease, and 49 people (21%) predict prices will fluctuate around the accumulation zone.

Mr. Alex Kuptsikevich - senior analyst at FxPro - commented that gold prices are at risk of falling further: "I predict prices will fall next week. Recent developments show a clear weakening trend as gold has broken through the 50-day average (about $3,324) and struggled to hold above $3,300. Many failures when approaching $3,500/ounce reflect a short-term downward signal.

He noted that the ease of tensions between Israel and Iran has reduced safe-haven demand - a factor that has supported gold's strong increase. The $3,100 to $3,400 accumulation area remains, but technical indicators are deteriorating. When selling pressure is dominant, prices may face further downward pressure before a new recovery period appears, he said.

Precious metals expert Jim Wyckoff also expressed his pessimism, saying that gold prices are under regular selling pressure due to poor technical models and investor risk-off psychology.

Mr. Daniel Pavilonis - senior commodity broker at RJO Futures - predicted that risk-off demand will continue to decrease, despite concerns about the Fed's policies and the prospect of interest rate cuts.

I think this trend will continue. If there are more trade deals in the near future, geopolitical tensions will cool down, weakening demand for gold. The momentum for gold prices to increase in previous months may gradually decrease, and oil prices may even cool down, he said.

Mr. Pavilonis predicted that gold prices will retreat to the 200-day moving average. "In the long term, I still believe that prices will recover, but currently I have not seen any new buying cash flow participating. The profit-taking trend has appeared, and if the decline continues, the possibility of a fake sale cannot be ruled out, he added.

He also said that many investors are shifting capital to other metals such as silver, platinum and palladium.