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 78.1-79.2 million VND/tael (buy - sell); increased by 100,000 VND/tael for buying but kept the same for selling.
Saigon Jewelry Company listed the price of gold rings at 77.9-79.2 million VND/tael (buy - sell); both buying and selling prices remained unchanged compared to the closing price of the previous trading session.
Bao Tin Minh Chau listed the price of gold rings at 77.98-79.18 million VND/tael (buy - sell); both buying and selling prices remained unchanged compared to the closing price of last week's trading session.
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 10:45 p.m. on September 18, the world gold price listed on Kitco was at 2,569.4 USD/ounce, down 6.9 USD/ounce.
Gold Price Forecast
World gold prices fell amid a recovery in the USD index. At 10:30 p.m. on September 18, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, stood at 100.617 points (up 0.05%).
Gold prices may fall in the short term following the Federal Reserve's first rate cut, but the future of bullion looks very bright through 2025, according to new research and analysis from Goldman Sachs, UBS, TD Securities and Bank of America.
On Kitco, Goldman Sachs believes that gold prices could fall in the short term if the Fed decides to cut by 25 basis points instead of 50 basis points. However, they still expect the precious metal to rise to a new record high after that as inflows into exchange-traded funds backed by gold bullion increase.
UBS analysts also maintain a bullish outlook on gold ahead of the Fed's easing cycle, and like Goldman Sachs, they see the yellow metal trading at $2,700 an ounce, although they expect it could take until mid-2025 to reach that level.
The World Gold Council (WGC) has just released its report on the gold market in August 2024 and forecast for the coming time. According to WGC, August is a notable time for the gold market.
According to the World Gold Council, the main factors driving the increase in gold prices are the weakening of the US dollar and the slide in 10-year bond yields as the FED shows the possibility of more interest rate cuts.
However, gold's strong investment performance in July negatively impacted returns, as high returns typically lead to lower gains in subsequent periods, the WGC said.
In addition, the organization also said that India's recent reduction in gold import tax has increased the country's demand for gold, as seen through the sharp increase in demand for gold from jewelry retailers and consumers.
Meanwhile, global gold-backed exchange-traded funds (ETFs) have seen inflows for four consecutive months, mainly from Western fund investments.
