Gold price update on the morning of September 23: Unexpected developments

Updated SJC gold price

As of 6:00 a.m., the price of SJC gold bars was listed by Saigon Jewelry Company at VND122-124 million/tael (buy in - sell out); increased by VND6 million/tael for both buying and selling. The difference between buying and selling prices is at 2 million VND/tael.

At the same time, the price of SJC gold bars was listed by DOJI Group at 122-124 million VND/tael (buy - sell); increased by 6 million VND/tael for both buying and selling. The difference between buying and selling prices is at 2 million VND/tael.

Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 120.5-122.5 million VND/tael (buy - sell); increased by 4.5 million VND/tael for both buying and selling. The difference between buying and selling prices is at 2 million VND/tael.

9999 round gold ring price

As of 6:00 a.m. today, the price of Hung Thinh Vuong 9999 round gold rings at DOJI was listed at 117.2-119 million VND/tael (buy - sell); an increase of 3.7 million VND/tael for buying and an increase of 32 million VND/tael for selling. The difference between buying and selling prices is at 1.8 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 119-122 million VND/tael (buy - sell); increased by 4.5 million VND/tael for buying and increased by 4 million VND/tael for selling. The difference between buying and selling prices is at 3 million VND/tael.

In the context of strong changes in domestic gold prices, the gap between buying and selling prices has been pushed to a high level, increasing risks for individual investors.

When the world gold price fluctuates greatly, the large difference between buying and selling in the domestic market is a clear warning sign. If gold prices fall, buyers will suffer a significant loss. Personal investors, especially those who pursue a "surfing" strategy, need to think carefully before making an investment decision.

In today's trading session, world gold prices have decreased sharply. Therefore, the domestic gold market is likely to witness a deep decline when opening the trading session on April 23.

World gold price

As of 6:00 a.m. on April 23, the world gold price was listed at 3,330.3 USD/ounce, down 77.7 USD.

Gold price forecast

According to Kitco, gold prices fell after reaching a record high due to investors taking profits and stocks recovering. US stock indexes have recorded a strong increase when there was information that the US Treasury Secretary said the deadlock in US - China trade was unmaintainable and likely to cool down.

Importantly, the recent greater price fluctuations in gold are an early sign that this strong growth cycle may be close to the upcoming short-term market peak and peak, from a time perspective rather than from a price perspective. However, downstream investors will make mistakes if they face the strength of this trend.

Technically, June gold investors are having a solid short-term technical advantage, but today's price action shows that they may be exhausted.

Overseas markets today saw the USD index increase strongly after hitting a three-year low on Monday. Nymex crude oil prices increased sharply and traded around 65 USD/barrel. The yield on the 10-year US Treasury note is currently at 4.375% and has decreased slightly today.

Economic data to watch

Wednesday: Preliminary manufacturing and service PMI, new home sales in the US

Thursday: Long-term goods orders, weekly jobless claims, US home sales