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 77.35-78.50 million VND/tael (buy - sell); an increase of 50,000 VND/tael in both directions.
Saigon Jewelry Company listed the price of gold rings at 77.25 - 78.5 million VND/tael (buy - sell); an increase of 100,000 VND/tael for buying and 50,000 VND/tael for selling.
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 0:00 on September 11, the world gold price listed on Kitco was at 2,514.3 USD/ounce, a sharp increase of 16.8 USD/ounce.
Gold Price Forecast
World gold prices increased last night despite the high USD index. Recorded at 0:00 on September 11, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 101.627 points (up 0.11%).
Gold prices rose as the market awaited the US CPI report due later today, according to Kitco. The August consumer price index is expected to have risen 2.6% year-over-year, following a 2.9% increase in the July report. The August “core” CPI (excluding food and energy) is expected to have risen 3.2% year-over-year, up from a 3.2% increase in the July report. The US producer price index report is due on Thursday.
Lower interest rates reduce the opportunity cost of holding non-interest-bearing precious metals like gold. The Federal Reserve is almost certain to cut interest rates next week. Markets are pricing in a 71% chance of a 25 basis point cut and a 29% chance of a 50 basis point cut, according to the CME FedWatch tool.
According to Ewa Manthey - Commodity Strategist at ING, the gold price rally is just getting started and the US interest rate cut will push gold prices to a new record high this month.
Manthey noted that gold has been one of the best performing commodities this year, up more than 21% year to date.
She pointed out that the increase in gold was mainly due to expectations of a Fed rate cut, strong buying by central banks, and safe-haven demand due to increased geopolitical risks...
Manthey believes the upcoming Fed rate-cutting cycle will be the next strong and sustainable driver of gold prices. “The gold rally will continue into next year, with an average price of $2,700 an ounce in 2025,” she said.
The key outside markets today saw Nymex crude oil prices fall sharply, hitting a 15-month low and trading around $68.00 a barrel. The benchmark 10-year US Treasury note is currently yielding 3.663%.
