Update SJC gold price
Price of round gold ring 9999
As of 5:30 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 77.45-78.6 million VND/tael (buy - sell); unchanged.
Bao Tin Minh Chau listed the price of gold rings at 77.43 - 78.63 million VND/tael (buy - sell); unchanged.
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 $2,497.5/ounce, down $21/ounce.
Gold Price Forecast
World gold prices fell amid an increase in the USD index. Recorded at 5:30 p.m. on September 7, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, stood at 101.140 points (up 0.07%).
World gold prices fell sharply in the trading session on Friday (September 6), falling below the $2,500/oz mark, after the US Department of Labor released the August employment report. Although this statistic was worse than expected, the market increased bets on the possibility that the US Federal Reserve (FED) would choose a smaller interest rate cut at the upcoming meeting, leading to downward pressure on gold prices.
The August jobs report from the US Department of Labor showed that the country's non-farm sector added only 142,000 new jobs in August, much less than the forecast of 161,000 new jobs that economists gave in a survey by Dow Jones news agency.
However, the unemployment rate fell 0.1 percentage point from the previous month to 4.2%, in line with forecasts.
Some experts are pessimistic about the short-term gold price outlook because the FED is likely to only cut interest rates by 0.25 percentage points in its first cut...
The picture remains unclear as unemployment falls while average hourly earnings rise, according to independent metals trader Tai Wong. He said the latest data does not provide clarity on the size of the US central bank’s interest rate cut at its September meeting.
Gold prices have risen more than 22% this year, and the precious metal is in a new uptrend that is unlikely to stop anytime soon, said Callum Thomas, founder of Topdown Charts.
This week, 14 analysts participated in the Kitco News Gold Survey. The results showed a clear shift in sentiment to the downside. Only four analysts expect gold prices to rise next week. Meanwhile, seven analysts believe that gold will trade lower next week. The remaining three analysts predict further declines in the precious metal.
177 votes were cast in Kitco’s online poll. Main Street investors remained bullish. Exactly 100 traders expect gold prices to rise next week. Only 29 expect the precious metal to trade lower. Forty-eight see gold prices trading sideways next week.
