SJC gold bar price
9999 gold ring price
As of 6:00 a.m., the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 77.3 - 78.45 million VND/tael (buy - sell); down 150,000 VND/tael in both directions compared to the beginning 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 beginning 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 beginning 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 11:30 p.m. on September 9, the world gold price listed on Kitco was at $2,497.5/ounce.
Gold Price Forecast
World gold prices increased last night despite the high USD index. Recorded at 3:30 a.m. on September 9, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 101.459 points (up 0.31%).
Kitco News' weekly gold survey shows that experts are quite pessimistic about gold's short-term prospects.
If CPI data released this week is lower than expected, gold will tend to rise sharply. However, the current rise in the US dollar is becoming a "barrier" for gold, said market analyst Tim Waterer at KCM Trade.
Darin Newsom, senior market analyst at Barchart, said that in the short term, the Federal Open Market Committee (FOMC) meeting will affect gold prices. Gold prices for December delivery may decline slightly. The short-term trend on the gold futures chart remains bearish, with the recent low at $2,523 an ounce.
According to the CME FedWatch tool, traders are currently pricing in a 75% chance that the Fed will cut rates by 25 basis points at its September 17-18 meeting, and a 50 basis point cut is around 25%.
In the long term, Joe Cavatoni, senior market strategist for the Americas at the World Gold Council (WGC), said that there are many factors supporting gold prices. Gold purchases by central banks are a great factor for the precious metal market. He predicted that gold prices could trade in a range of $2,700 - $3,000 an ounce.
Several important figures will be released this week, including the August 2024 Consumer Price Index (CPI), due on September 11, followed by the Producer Price Index (PPI), due on September 12.
