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 77.3-78.45 million VND/tael (buy - sell); down 150,000 VND/tael in both directions compared to the close of the previous trading session.
Saigon Jewelry Company listed the price of gold rings at 77.15 - 78.45 million VND/tael (buy - sell); down 150,000 VND/tael in both directions compared to the close of the previous trading session.
Bao Tin Minh Chau listed the price of gold rings at 77.28-78.48 million VND/tael (buy - sell), down 150,000 VND/tael in both directions compared to the close of the previous 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 7:10 p.m., the world gold price listed on Kitco was at $2,497/ounce, almost unchanged from the closing price of last week's trading session.
Gold Price Forecast
World gold prices are under pressure amid the rising USD index. Recorded at 7:15 p.m. on September 9, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 101.587 points (up 0.44%).
This week, 14 analysts participated in the Kitco News gold survey. The results showed a clear shift in sentiment to the downside. Only four experts expect gold prices to rise this week. Meanwhile, seven analysts believe that gold will trade lower this week. The remaining three experts predict that the precious metal will fall further.
Mark Leibovit, publisher of VR Metals/Resource Letter, thinks gold could fall, although he still favors gold in the long term.
Kevin Grady - President of Phoenix Futures and Options said that all current gold price movements are related to the FED.
“I think people are expecting a 50 basis point cut in September. I don’t agree with the view that the Fed would panic if it started the easing cycle with a 50 basis point cut.
“This is a reasonable cut, I don’t think it will have a negative impact on the market. The question is whether the jobs data, which shows a fall in unemployment, an increase in income and hours worked, will be enough to prevent the Fed from cutting 50 basis points later this month,” he said.
Darin Newsom, senior market analyst at Barchart.com, sees gold prices falling this week: “With the US FOMC meeting next week, December gold looks set to fall slightly this week. The short-term trend on the daily closing chart remains bearish.”
After a week dominated by jobs data, inflation is once again the economic data to watch next week, with the US CPI for August due out on Wednesday morning and the ECB interest rate decision on Thursday morning.
Thursday will also see the release of the US PPI for August, along with weekly jobless claims. Next week concludes with the release of the University of Michigan's preliminary survey of consumer sentiment for September on Friday morning.
