SJC gold bar price
Gold ring price 9999
As of 6:00 a.m., the price of 9999 Hung Thinh Vuong plain round gold ring at DOJI was listed at 77.00-78.40 million VND/tael (buy - sell).
Saigon Jewelry Company lists gold ring prices at 77-78.4 million VND/tael (buy - sell).
Bao Tin Minh Chau listed the gold ring price at 77.08-78.38 million VND/tael (buy - sell).
In recent sessions, gold ring prices often fluctuate in the same direction as the world market. Investors can refer to world markets and expert opinions before making investment decisions.
World gold price
As of 6:00 a.m. on August 18, the world gold price listed on Kitco was at 2,507.7 USD/ounce.
Gold price forecast
World gold prices increased in the context of the USD index moving sideways. Recorded at 6:00 a.m. on August 18, the US Dollar Index measuring the fluctuation of the greenback with 6 major currencies was at 102,310 points (down 0.49%).
Some experts believe that the factor driving gold's increase recently is the strong safe haven demand as political and economic concerns are increasing.
Anuj Gupta - Head of Commodities and Currency at HDFC Securities - said that the upward trend in gold prices is still there and the direction of the precious metal will depend on the Fed's policy direction. He said that the speech of US Federal Reserve Chairman (FED) - Mr. Jerome Powell at the Jackson Hole Symposium next week will show a clearer picture of the Central Bank's policy roadmap. America.
Accordingly, if Mr. Powell shows concern about economic growth or emphasizes falling inflation, this could strengthen the possibility of stronger interest rate cuts. On the contrary, if he is optimistic and does not make specific commitments, the market may have to readjust current expectations.
Head of trading Phil Carr of The Gold & Silver Club commented that gold has increased in price continuously since October 2023. From nearly 1,800 USD/ounce, this precious metal continuously skyrocketed and conquered record highs many times during the year, recording a 38% increase since October.
This expert noted that gold's strong rise is closely related to government debt in the US. He cited that during the period when the US national debt skyrocketed from 5,000 billion to 35,000 billion USD, the price of gold increased 8 times since 2000. "This is when things really started to get interesting. If history repeats itself, the price of gold could reach $5,000/ounce when the US national debt reaches $70,000 billion," Carr said.
Senior commodity broker Bob Haberkorn of RJO Futures believes that world gold prices will reach 2,600 USD/ounce when the FED cuts interest rates. However, in the short term, the price of this precious metal will move sideways or decrease.
According to Haberkorn, the market may have predicted the FED's 50 basis point reduction too early. He said that the US Central Bank may not be in a hurry with this reduction at the upcoming meeting, because although inflation has decreased a bit, it is still higher than the target level set by the Fed.
Haberkorn affirmed that the gold market is in an uptrend. However, the recently broken $2,500/ounce level is high and it is difficult to attract new buyers to the market at such a high level.
