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 - 78.6 million VND/tael (buy - sell), down 50,000 VND/tael in both directions.
Saigon Jewelry Company listed the price of gold rings at 77.3 - 78.6 million VND/tael (buy - sell); down 100,000 VND/tael for buying and down 50,000 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 6:00 a.m. on September 1, the world gold price listed on Kitco was at 2,503.4 USD/ounce.
Gold Price Forecast
World gold prices plummeted amid a decline in the USD index. Recorded at 6:00 a.m. on September 1, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 101.665 points (up 0.39%).
Experts are making mixed predictions about the short-term future of precious metals.
Adrian Day, chairman of Adrian Day Asset Management, is among those predicting a rise in gold prices next week: “As we approach a rate cut by the US Federal Reserve, the momentum could be bullish for gold. The first rate cut in a cycle has been a bullish signal for gold for over 20 years. Although it is already priced in to some extent, I still expect a positive reaction.”
On the other hand, Marc Chandler - General Manager at Bannockburn Global Forex - expects gold prices to fall next week: "The bullish momentum has stalled. I can envision a decline that will take gold prices down to the $2,470-2,475/ounce range.
Next week market participants will focus on employment figures as North American markets return from the weekend.
On Tuesday, the market will receive the US ISM manufacturing PMI for August. On Wednesday, there will be the Bank of Canada monetary policy decision and the US JOLTS Job Openings. Then on Thursday, traders will watch the ADP employment index for August, the weekly jobless claims report and the US ISM services PMI.
But the biggest story next week will be the US non-farm payrolls report for August, due out Friday morning. Some market experts believe the report could boost the Federal Reserve's expected September interest rate cut from 25 to 50 basis points.
