SJC gold bar price
As of 6:00 a.m., the price of SJC gold bars was listed by DOJI Group and Bao Tin Minh Chau at VND134.5-136.5 million/tael (buy in - sell out), an increase of VND1.5 million/tael in both directions compared to a day ago. 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 134-136.5 million VND/tael (buy - sell), an increase of 1.5 million VND/tael in both directions compared to a day ago. The difference between buying and selling prices is at 2.5 million VND/tael.
9999 gold ring price
As of 6:00 a.m., DOJI Group and Phu Quy listed the price of gold rings at 129.9-132.9 million VND/tael (buy - sell), an increase of 1.1 million VND/tael in both directions compared to a day ago. The difference between buying and selling is 3 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 130.6-133.6 million VND/tael (buy - sell), an increase of 1.5 million VND/tael in both directions compared to a day ago. The difference between buying and selling is 3 million VND/tael.
The buying-selling gap is pushed up too high, increasing the risk for individual investors. Personal investors, especially those with a "surfing" mentality, need to consider carefully before putting money down.
World gold price
The world gold price was listed at 0:00 at 3,830 USD/ounce, up 71.3 USD.
Gold price forecast
World gold prices increased as safe-haven demand increased in the context of the US government's risk of closing in the middle of the week.
US President Donald Trump is expected to meet with bipartisan leaders during the day to discuss a budget extension, avoiding the risk of the government having to close from October 2.
UBS expert Giovanni Staunovo commented: "With the US Federal Reserve (FED) cutting interest rates further in the next 6 months, I think gold still has room to increase, towards the mark of 3,900 USD/ounce".
He said concerns about the possibility of a US government shutdown are also boosting demand for safe-haven assets such as gold.
Previously, the personal consumption expenditure (PCE) index released last weekend was in line with forecasts, reinforcing expectations that the Fed will cut interest rates further. According to the CME FedWatch tool, traders are assessing a 90% chance of a 0.25 percentage point Fed cut in October and a 65% chance of a further cut in December.
Since the beginning of the year, gold has increased by more than 45% thanks to the benefits of low interest rates and the context of economic - geopolitical instability. Many securities companies also raised their gold price prospects. The world's largest gold ETF SPDR Gold Trust said its holdings increased by 0.89% to 1,005.72 tons last weekend.
According to Heraeus precious metals experts, China and India are still importing strong gold despite record prices, while silver reserves are declining and platinum supply is scarce, continuing to support the price increase.
Notable economic data this week
Tuesday: JOLTS job positions (USA), Consumer confidence index (USA).
Wednesday: ADP Private sector Employment Report (US), ISM Manufacturing PMI.
Thursday: Application for weekly unemployment benefits (US).
Friday: US Non-farm Payrolls, ISM Services PMI.
Note: Gold price data is compared to a day earlier.
See more news related to gold prices HERE...
