Gold Price of SJC Bars
Gold Price of 9999 Bars
As of 6h00, the gold price of 9999 Hưng Thịnh Vượng round bars at DOJI is listed at 76.25-77.50 million dong/unit (buying - selling), increasing by 200,000 dong/unit in buying and 250,000 dong/unit in selling compared to the previous morning.
Company Vàng bạc Đá quý Sài Gòn lists the gold price of 9999 bars at 76.15-77.5 million dong/unit (buying - selling), increasing by 200,000 dong/unit in both buying and selling.
Bảo Tín Minh Châu lists the gold price of 9999 bars at 76.28-77.48 million dong/unit (buying - selling), increasing by 250,000 dong/unit in both buying and selling.
In recent sessions, the gold price of 9999 bars has often fluctuated in the same direction as the global market. Investors can refer to the global market and expert opinions before making investment decisions.
Global Gold Price
As of 6h on August 10, global gold price is listed on Kitco at 2,430 USD/ounce, increasing by 5 USD/ounce compared to the previous morning.
Gold Price Forecast
Global Gold Price is expected to rise in a context where the US Dollar Index has decreased slightly. At 6h on August 10, the US Dollar Index, which measures the fluctuation of the US dollar against 6 major currencies, is at 102.980 points (decreasing by 0.04%).
Gold price is expected to rise due to strong demand for safe-haven assets and increasing expectations of a significant interest rate cut by the Federal Reserve in September 2024.
Major financial companies, including J.P.Morgan, Citigroup, and Wells Fargo, have forecasted a 50-basis-point interest rate cut by the Federal Reserve in September 2024 following the previous week's US employment data. According to the FedWatch tool of the CME, the market predicts a 72% chance of a 50-basis-point interest rate cut in September, up from 70% on August 5, as well as another cut expected in December 2024.
Mr. Alex Ebkarian, CEO of Allegiance Gold, stated that the prospects for gold remain strong. If the Federal Reserve implements a 0.5% interest rate cut, the gold market will experience a significant recovery.
In addition, the ongoing tensions in the Middle East continue to support the gold market. Gold is considered a barrier against geopolitical and economic instability and tends to develop strongly in a low-interest-rate environment.
The key economic data for the upcoming week includes the release of the US PPI for July on Monday, followed by the US CPI for July on Tuesday, US retail sales for July, and US weekly unemployment benefits on Wednesday, and US housing starts and building permits for July on Friday...
Investors are also waiting for the Federal Reserve's interest rate decision in September to make their investment decisions.
