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 79.3-80.4 million VND/tael (buy - sell), a sharp increase of 1.2 million VND/tael in both directions compared to early this morning.
Bao Tin Minh Chau listed the price of gold rings at 79.28-80.38 million VND/tael (buy - sell), an increase of 1.2 million VND/tael for both buying and selling compared to early this morning.
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 21, the world gold price listed on Kitco was at 2,621.9 USD/ounce, a sharp increase of 34.9 USD/ounce.
Gold Price Forecast
World gold prices increased sharply despite the recovery trend of the USD index. Recorded at 0:15 on September 21, the US Dollar Index, which measures the fluctuations of the greenback against 6 major currencies, was at 100.422 points (up 0.1%).
According to Kitco - gold prices are reaching record highs, due to the strong interest rate cut by the US Federal Reserve (FED). December gold increased by 28.50 USD to 2,643.10 USD/ounce and December silver increased by 0.322 USD to 31.745 USD/ounce.
Notably, the Bank of Japan kept interest rates unchanged as expected, while leaving open the possibility of future rate hikes. The BOJ highlighted the benefits of a stronger yen for the inflation outlook. Markets do not expect a rate hike before the end of the year. Meanwhile, China kept its key lending rate unchanged.
An interesting development in the markets after the Fed's aggressive 0.5% rate cut on Wednesday: US Treasury yields rose despite lower US interest rates.
Barrons reported that the main reason is that because of the Fed's bold rate cut in the context of a US economy that is not really that weak, investors now believe that the appropriate yield on US Treasury bonds needs to be higher.
According to analysts, gold is considered a safe asset during times of political and economic uncertainty. Precious metals also tend to thrive in low interest rate environments. Therefore, the fact that the Fed and many central banks have begun to loosen monetary policy will push gold prices up.
In a report, investment bank UBS said: In our view, this recovery could go further. We target gold at $2,700/oz by mid-2025. In addition to short-term risk factors, we expect greater demand for gold from ETFs to accelerate in the coming months.
The major outside markets saw the dollar index rise slightly today after selling off and hitting a multi-week low. Nymex crude oil prices were slightly weaker, trading around $71.50 a barrel. The benchmark 10-year US Treasury yield is falling, currently at 3.713%.
