SJC gold bar price
As of 6:00 a.m. on September 23, the price of SJC gold bars was listed by DOJI Group at VND 131.6-133.6 million/tael (buy in - sell out), an increase of VND 600,000/tael in both directions. The difference between buying and selling prices is at 2 million VND/tael.
Bao Tin Minh Chau listed the price of SJC gold bars at 131.6-133.6 million VND/tael (buy - sell), an increase of 600,000 VND/tael in both directions. The difference between buying and selling prices is at 2 million VND/tael.
Phu Quy Gold and Stone Group listed the price of SJC gold bars at 131-133.6 million VND/tael (buy - sell), an increase of 500,000 VND/tael for buying and an increase of 600,000 VND/tael for selling. The difference between buying and selling prices is at 2.6 million VND/tael.
9999 gold ring price
As of 6:00 a.m. on September 23, DOJI Group listed the price of gold rings at 127.5-130.5 million VND/tael (buy in - sell out), an increase of 700,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 127.8-130.8 million VND/tael (buy - sell), an increase of 800,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.
Phu Quy Gold and Stone Group listed the price of gold rings at 127.3-130.3 million VND/tael (buy in - sell out), an increase of 500,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.
Currently, the difference between buying and selling gold rings is at a very high level, around 3 million VND/tael, posing a potential risk of loss for investors.
World gold price
The world gold price was listed at 11:15 p.m. on September 22 at 3,736.5 USD/ounce, up 52.5 USD/ounce.
Gold price forecast
World gold prices increased as investors poured into precious metals after the US interest rate cut last week and signaled that the Federal Reserve (FED) could continue to loosen policy.
The market is also waiting for a series of speeches from FED officials and US inflation data released this week.
Gold is consolidating its upward momentum, with traders paying attention to the possibility of prices continuing to break out from now until the end of the year, driven by the forecast that the FED will continue to lower interest rates - Tim Waterer, Head of Market Analysis at KCM Trade, commented, and said that central banks maintaining buying also continues to support the upward momentum of gold.
The US core personal consumption expenditure (PCE) price index - the FED's preferred inflation measure - is expected to be released on Friday, along with comments from at least 12 FED officials, including Chairman Jerome Powell, on Tuesday, will provide additional signals on monetary policy prospects.
If macro data continues to reinforce the loose Fed view, gold could see new highs this week, Waterer added.
The Fed cut interest rates by 0.25 percentage points on Wednesday, but still warned about inflationary pressures. According to the CME FedWatch tool, investors are expecting the Fed to make two more cuts of 0.25 percentage points in October and December, with a probability of 93% and 81%, respectively.
In a low interest rate environment, gold often performs well. Since the beginning of the year, gold prices have increased by nearly 42%, thanks to economic and geopolitical instability, central bank purchases and the trend of loosening monetary policy.
World gold prices have continuously increased partly due to the wave of central bank buying. According to consulting firm Metals Focus, from 2022 to now, each year, central banks have net bought more than 1,000 tons of gold. In 2025, this figure is expected to be about 900 tons, double the average of 457 tons/year in the 2016-2021 period.
Several developing countries seek to diversify away from the US dollar after the West froze nearly half of Russia's foreign exchange reserves in 2022.
The World Gold Council (WGC) said that the official report to the IMF only accounts for 34% of total estimated demand in 2024 and the group contributes 23% of total global gold demand for the period 2022-2025, double the average of the 2010 decade.
Schedule of announcing economic data affecting gold prices this week
Tuesday: US S&P Flash PMI.
Wednesday: US new home sales.
Thursday: Swiss National Bank monetary policy decision, US final Q2 GDP, US long-term orders, US weekly jobless claims, US existing home sales.
Friday: US personal consumption expenditure (PCE) price index, University of Michigan consumer confidence index (adjusted).
Note: Gold price data is compared to a day earlier.
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