Gold price update morning of September 17: Price fluctuates strongly, Fed increases basic interest rate by 0.25%

9999 gold ring price

As of 6:00 AM, Saigon SJC Jewelry Company listed the price of gold rings at 143 - 146 million VND/tael (buying - selling), an increase of 1.2 million VND/tael in both directions. The buying - selling difference is at 3 million VND/tael.

DOJI Group listed the price of gold rings at 143-147 million VND/tael (buying - selling), an increase of 500,000 VND/tael in both directions compared to yesterday morning. The buying - selling difference is at 4 million VND/tael.

Phu Quy Gold and Gems Group listed the price of gold rings at the threshold of 143.5-146.9 million VND/tael (buying - selling), an increase of 1.2 million VND/tael in both directions compared to yesterday morning's trading session. The buying - selling difference is at 3.4 million VND/tael.

SJC gold bar price

At the same time, Saigon SJC Jewelry Company listed SJC gold prices at the threshold of 143.5-146.5 million VND/tael (buying - selling), an increase of 1.2 million VND/tael in both directions compared to yesterday morning. The buying - selling difference is at 3 million VND/tael.

Similarly, DOJI listed SJC gold price at the threshold of 143.5-146.5 million VND/tael (buying - selling), simultaneously increasing by 1.2 million VND/tael in both directions compared to yesterday morning. The buying - selling difference is at 3 million VND/tael.

Phu Quy listed the price of SJC gold bars at the threshold of 143.5-146.5 million VND/tael (buying - selling), both increasing by 1.2 million VND/tael in both directions compared to yesterday morning. The buying - selling difference is at 3 million VND/tael.

Jewelry gold price

DOJI listed 9999 jewelry gold at the threshold of 141.7-145.7 million VND/tael (buying - selling).

Phu Quy listed 9999 jewelry gold at the threshold of 141-146 million VND/tael (buying - selling).

World gold price

World gold prices are listed around the threshold of 4,343.3 USD/ounce.

Gold price forecast

The Fed has raised interest rates by another 25 basis points to 3.75-4%, as expected by the market before the meeting. This is the first increase since July 2023.

It is noteworthy that the Fed continues to emphasize that inflation is still significantly higher than the target of 2%. This shows that the agency is not ready to quickly move to loose monetary policy. If the market continues to raise expectations for further interest rate hikes in 2026, US and USD yields may increase, thereby putting pressure on gold.

Gold has fluctuated around the 4,300 USD/ounce range many times during the week. In yesterday's trading session, spot prices at one point rose to about 4,347.91 USD/ounce, amid a weakening USD and oil prices, bond yields cooled down.

Technically, the 4,300 USD/ounce zone may continue to play a psychological role. If it is maintained above this zone after the Fed's decision, gold is likely to return to the 4,400-4,450 USD/ounce zone. Some technical analysis currently places the levels closer to around 4,331 and 4,400 USD/ounce.

Conversely, if gold loses the 4,300 USD/ounce zone and US bond yields continue to rise, selling pressure may bring the price to the 4,200-4,270 USD/ounce test zone.

After the Fed has raised interest rates as expected, the gold market will shift its focus from "whether the Fed will raise interest rates" to "how much more the Fed will raise and how long it will maintain high interest rates". In the short term, the 4,300 USD/ounce zone continues to be an important milestone. The ability to stay above this zone will depend significantly on the diễn biến of the USD, bond yields and the Fed's message on the next steps.