Gold price update morning of September 19th: Gold bars approach the 148 million VND/tael mark

9999 gold ring price

As of 6:00 AM, Saigon SJC Jewelry Company listed the price of gold rings at the threshold of 144.1 - 147.1 million VND/tael (buying - selling), an increase of 1.6 million VND/tael in both directions. The buying - selling difference is at 3 million VND/tael.

DOJI Group listed gold ring prices at 144-148 million VND/tael (buying - selling), adjusting up 1.5 million VND/tael in both directions. The buying - selling difference is at 4 million VND/tael.

Phu Quy Jewelry Group listed the price of gold rings at the threshold of 144.6-147.6 million VND/tael (buying - selling), an increase of 1.8 million VND/tael in both directions. The buying - selling difference is at 3 million VND/tael.

SJC gold bar price

At the same time, Saigon SJC Jewelry Company listed SJC gold bar prices at the threshold of 144.6-147.6 million VND/tael (buying - selling), simultaneously increasing by another 1.8 million VND/tael. The buying - selling difference is at 3 million VND/tael.

Similarly, DOJI listed SJC gold price at the threshold of 144.6-147.6 million VND/tael (buying - selling), an increase of 1.8 million VND/tael in the buying - selling direction. The buying - selling difference is at 3 million VND/tael.

Phu Quy listed the price of SJC gold bars at the threshold of 144.6-147.6 million VND/tael (buying - selling), simultaneously increasing by another 1.8 million VND/tael. The buying - selling difference is at 3 million VND/tael.

Jewelry gold price

DOJI listed 9999 jewelry gold at 142-146 million VND/tael (buying - selling), an increase of 800,000 VND/tael in both directions.

Phu Quy listed 9999 jewelry gold at the threshold of 141.5-146.5 million VND/tael (buying - selling), a sharp increase of 1 million VND/tael in both directions compared to the closing session yesterday.

World gold price

World gold prices are listed around the threshold of 4,387.4 USD/ounce.

Gold price forecast

Spot gold prices maintained their upward momentum as crude oil prices fell, US Treasury bond yields cooled down and the USD weakened, helping the precious metal continue its recovery momentum after the Fed's decision.

The latest market developments are still influenced by investors re-evaluating the Fed's interest rate hike decision on Wednesday and policy orientations for the coming time. The Fed has raised the target interest rate band by another 25 basis points, to 3.75%-4.00% this week and signaled that another interest rate hike could still occur. However, the initial interest rate shock cooled down as oil prices and US Treasury bond yields fell again.

The yield on 10-year US Treasury bonds is at around 4.93%-4.94%, down from a high of 5.04% this week, while the USD has stalled. The number of initial jobless claims this week fell to 196,000, showing that the labor market is still strong enough to maintain the Fed's policy tightening trend.

For gold, the current context is positive but not entirely clear: yields and falling oil prices are supporting the recovery momentum, while the Fed under Mr. Warsh's leadership has not yet eliminated the risk of raising interest rates again.

Gold and silver are recovering as the chain of impacts from oil prices - yields - USD that once put pressure on precious metals at the beginning of the week is reversing. Gold prices have regained the 10-day moving average and are testing the breakthrough threshold of 4,381 USD/ounce identified in the latest technical analysis.

However, the recovery momentum still depends on certain conditions. If crude oil prices remain stable around current levels and the yield of 10-year US Treasury bonds remains below 5%, the precious metal may continue to recover. Conversely, if oil prices or yields increase again, arguments about the possibility of the Fed continuing to raise interest rates may quickly return to dominate the market.