Domestically, gold ring prices may be adjusted to increase following the world when units open trading sessions today.
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 77.5-78.65 million VND/tael (buy - sell); unchanged.
Bao Tin Minh Chau listed the price of gold rings at 77.48 - 78.63 million VND/tael (buy - sell), unchanged.
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 6:30 a.m. on September 13, the world gold price listed on Kitco was at 2,557.3 USD/ounce, an increase of 44.2 USD/ounce.
Gold Price Forecast
World gold prices increased sharply in the context of the USD index decreasing. Recorded at 6:30 a.m. on September 13, the US Dollar Index measuring the fluctuations of the greenback against 6 major currencies was at 101.647 points (up 0.05%).
According to Kitco, gold prices increased sharply when the US producer price index in August increased 0.2% compared to July. The "core" PPI in August (excluding food and energy) increased 0.3% compared to July.
Meanwhile, the European Central Bank (ECB) has just cut its main interest rate by 0.25% to 3.5%. The rate cut was widely expected. Investors widely expect the US Federal Reserve (FED) to cut interest rates next week.
“Gold has tested a historic high after the ECB cut interest rates. Analysts also expect the Fed to start a new rate cut cycle next week, which is beneficial for gold and other precious metals,” said Vladimir Zernov, analyst at FX Empire, on Kitco.
If gold stabilizes above $2,550 an ounce, it will rise to $2,600 an ounce, Zernov said.
Lower inflation and lower interest rates have the effect of lowering bond yields, which is good for the precious metals market. Lower US Treasury yields and the idea of lower US interest rates have also weakened the US dollar, which is also good for gold and silver.
