SJC gold bar price
9999 gold ring price
As of 2:00 a.m., the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 77.9-79.1 million VND/tael (buy - sell); an increase of 400,000 VND/tael for buying and an increase of 450,000 VND/tael for selling.
Bao Tin Minh Chau listed the price of gold rings at 77.88-79.08 million VND/tael (buy - sell), an increase of 400,000 VND/tael for buying and an increase of 450,000 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 2:00 a.m. on September 14, the world gold price listed on Kitco was at 2,580.6 USD/ounce, a sharp increase of 23.3 USD/ounce.
Gold Price Forecast
World gold prices increased sharply in the context of the USD index decreasing. Recorded at 2:10 a.m. on September 14, the US Dollar Index measuring the fluctuations of the greenback against 6 major currencies was at 101.117 points (down 0.23%).
According to Kitco - gold prices have increased sharply over the past two days as 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,” said FX Empire analyst Vladimir Zernov on Kitco. “Analysts also expect the Fed to start a new rate cut cycle next week, which is beneficial for gold and other precious metals.”
Zernov said if gold stabilizes above $2,550 an ounce, it will rise to $2,600 an ounce.
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.
Regardless of the size of the Fed's initial rate cut, it suggests a cycle of monetary easing that could be long and frequent, which is a good scenario for non-yielding assets like gold, said market analyst Tim Waterer at KCM Trade.
The International Monetary Fund (IMF) said it was appropriate for the Fed to begin a long-awaited monetary easing cycle at its meeting next week as upside risks to inflation have eased.
Traders see a 41% chance of a 50 basis point cut and a 59% chance of a 25 basis point cut.
Meanwhile, ANZ commodity strategist Soni Kumari said gold prices could reach $2,600 an ounce in the short term, as the bullish momentum is quite strong at the moment.
