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 143.6-47 million VND/tael (buying - selling). The buying - selling difference remained at 3.4 million VND/tael.
DOJI Group listed the price of gold rings at 144-148 million VND/tael (buying - selling). 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). The buying - selling difference is at 4 million VND/tael.
SJC gold bar price
Phu Quy, DOJI, Bao Tin Minh Chau listed SJC gold bar prices at the threshold of 143.6-146.6 million VND/tael (buying - selling), unchanged in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.
After 1 week of market fluctuation, gold bar prices at Phu Quy and DOJI decreased by 1.8 million VND/tael in both buying and selling directions. For SJC gold bar prices at Bao Tin Minh Chau, the larger decrease is 3 million VND/tael (buying - selling) after 1 week.
Jewelry gold price
Phu Quy listed the price of 9999 jewelry gold at the threshold of 141-144 million VND/tael (buying - selling), increasing and decreasing by 1 million VND/tael respectively compared to the closing session yesterday.
DOJI listed 9999 jewelry gold at the threshold of 143.5-147.5 million VND/tael (buying - selling), an increase of 500,000 VND/tael compared to the closing session yesterday.
Bao Tin Minh Chau listed Thang Long 9999 Dragon Gold Jewelry at 142-147 million VND/tael (buying - selling), unchanged in both buying and selling directions compared to the previous closing session.
World gold price
World gold prices are listed around the threshold of 4,351.8 USD/ounce, down 52.6 USD (equivalent to 1.2%).
Gold price forecast
The gold market is under selling pressure after the latest data showed that price pressure at US producers generally increased last month.
The US Department of Labor has just announced that the overall producer price index (PPI) increased by 0.4% in August, after the increase of 0.1% in July was adjusted upwards. The latest data is consistent with the forecast, as economists expect the PPI to increase by 0.4%.
In the past 12 months, total wholesale price inflation increased by 5.4%, higher than the general forecast of 5.3% and the level of 4.8% of July after the adjustment increase.
Core PPI, excluding volatile food and energy costs, increased by 0.2% in August, lower than the 0.3% forecast of economists and after the 0.3% increase of June was adjusted upwards. Core PPI increased by 4.6% over the same period last year, consistent with the general forecast and higher than the 4.3% of July after the adjusted increase.
Gold prices immediately reversed and sharply decreased immediately after the data was announced at 8:30 am US Eastern time (ET).
In addition, the US Department of Labor also released data on initial jobless claims, after seasonal adjustment, reaching 206,000 claims in the week ending September 5. This figure is consistent with market forecasts. Data from the previous week was slightly adjusted up to 207,000 claims, compared to the 206,000 claims previously announced.
Analysts believe that a stable labor market creates more room for the US Federal Reserve (Fed) to raise interest rates at the monetary policy meeting next week, which contributes to putting pressure on gold prices.
Gold price data is compared to the previous day.
The information in the article only reflects market developments, not investment recommendations.
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