Gold price update morning of September 10th: Gold still has room to increase in price

9999 gold ring price

As of 6:00 AM, Phu Quy Gold and Gems Group listed the price of gold rings at the threshold of 142.4-145.8 million VND/tael (buying - selling), simultaneously going sideways in both buying and selling directions. The buying - selling difference is at 3.3 million VND/tael.

DOJI Group listed gold ring prices at the threshold of 143.7-147.7 million VND/tael (buying - selling), unchanged in both buying and selling directions. The buying - selling difference is at 4 million VND/tael.

The price of gold rings is listed by Bao Tin Minh Chau at 144-148 million VND/tael (buying - selling), an increase of 400,000 VND/tael in both directions compared to early yesterday morning. The difference between buying and selling is at 4 million VND/tael.

SJC gold bar price

Phu Quy, DOJI, Bao Tin Minh Chau listed SJC gold bar prices at 143.6-146.6 million VND/tael (buying - selling), an increase of 1.2 million VND/tael in both buying and selling directions compared to this morning's trading session. The buying - selling difference is at 3 million VND/tael.

Jewelry gold price

Phu Quy listed the price of 9999 jewelry gold at 140-145 million VND/tael (buying - selling), down 900,000 VND/tael compared to yesterday's closing session.

DOJI listed 9999 jewelry gold at the threshold of 143-147 million VND/tael (buying - selling), unchanged in both buying and selling directions compared to this morning's trading session.

Bao Tin Minh Chau listed Thang Long 9999 Dragon Gold Jewelry at 142-147 million VND/tael (buying - selling), down 900,000 VND/tael in both buying and selling directions compared to the previous closing session.

World gold price

The world gold price is listed at around 4,423.9 USD/ounce, an increase of 69.2 USD.

Gold price forecast

According to commodity and currency analysts from the leading Swiss financial and banking group (UBS), increasing concerns about fiscal policy, high inflation and geopolitical instability, along with strong gold demand from central banks, make allocating a significant proportion of gold a necessary factor in the investment portfolio.

UBS believes that gold is still a valuable portfolio diversification tool, especially for investors who prefer real assets. Analysts point out some important factors that are expected to support gold prices in the medium term.

First, strong gold demand from central banks. In which, the People's Bank of China bought 650,000 ounces of gold, equivalent to about 20 tons, in August, up from 640,000 ounces in July and the largest amount of gold bought in a month since October 2023.

However, China is not the only country that wants to increase gold reserves. According to a recent survey by the World Gold Council (WGC), nearly 90% of central banks surveyed expect official gold reserves globally to increase in the next 12 months, while 45% expect gold holdings to increase.

UBS continues to forecast that central banks will buy 750-1,000 tons of gold per year, thereby creating an important structural support source for gold prices.

Fiscal concerns are also expected to strengthen the long-term trend of diversification away from the USD and shifting to alternative assets.

In the medium and long term, the weakening USD will also boost demand for precious metals and support gold prices. UBS analysts believe that gold helps protect investment portfolios from the impact of inflation and geopolitical instability.

With the above reasons, UBS assesses that the long-term investment prospects for gold are still positive.

The Swiss bank said that gold prices have successfully broken the recent 100 USD fluctuation zone to surpass the 4,250 USD/ounce resistance level for the first time in 2 months.

Strategists warn that short-term risks are still present, especially if US economic data continues to be strong, oil prices increase with concerns about inflation, or the market continues to forecast that the Fed will pursue a tougher interest rate roadmap. However, although the immediate context may still fluctuate, the medium and long-term outlook for gold is still supported by some sustainable drivers. UBS forecasts gold prices will increase to about 5,000 USD/ounce in the first half of 2027.