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 80.6-81.65 million VND/tael (buy - sell), an increase of 500,000 VND/tael for buying and an increase of 450,000 VND/tael for selling.
Bao Tin Minh Chau also adjusted the price of plain round gold rings to increase to 80.54-81.64 million VND/tael (buy - sell), an increase of 560,000 VND/tael for both buying and selling.
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 1:30 a.m. on September 25, the world gold price listed on Kitco was at 2,656.7 USD/ounce, an increase of 28.9 USD/ounce, the highest ever.
Gold Price Forecast
World gold prices increased despite the recovery trend of the USD index. Recorded at 1:30 a.m. on September 25, the US Dollar Index, which measures the fluctuations of the greenback against 6 major currencies, was at 100.180 points, down 0.38%.
Precious metals in the international market are receiving strong support from information about US interest rate cuts. Investors are waiting for data from the US to answer the question of whether the US Federal Reserve's interest rate cut last week is the first step in a series of sharp cuts.
Fed Governor Christopher Waller said he would likely support a 25 basis point rate cut at the Fed's next meetings in November and December if the economy performs as he expects, but warned that another 50 basis point cut could come if the labor market weakens.
In addition, escalating tensions in the Middle East pushed gold prices to a new record high. IG Bank market strategist Yeap Jun Rong said that rising tensions in the Middle East boosted demand for gold to preserve capital and prevent risks. If tensions persist for a long time, it could cause gold prices to maintain an upward trend.
In an interview with Kitco News, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, said that gold's rally stems from its historical role as a safe haven.
McGlone said that gold reaching $3,000 an ounce is just a matter of time. He pointed out that hedge funds are positioning themselves to buy, reflecting their belief in the enduring strength of the precious metal: "Hedge funds are net long about 40% of gold futures."
