SJC gold bar price
As of 5:30 p.m. on September 5, the price of SJC gold bars was listed by DOJI Group at VND132.9-134.4 million/tael (buy in - sell out), an increase of VND500,000/tael in both directions. The difference between buying and selling prices is at 1.5 million VND/tael.
Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 132.9-134.4 million VND/tael (buy - sell), an increase of 500,000 VND/tael in both directions. The difference between buying and selling prices is at 1.5 million VND/tael.
Phu Quy Gold and Stone Group listed the price of SJC gold bars at 131.9-134.4 million VND/tael (buy - sell), an increase of 400,000 VND/tael for buying and an increase of 500,000 VND/tael for selling. The difference between buying and selling prices is at 2.5 million VND/tael.
9999 gold ring price
As of 5:30 p.m. on September 5, DOJI Group listed the price of gold rings at 126.5-129.5 million VND/tael (buy in - sell out), an increase of 200,000 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 126.8-129.8 million VND/tael (buy - sell), an increase of 300,000 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 126.5-129.5 million VND/tael (buy in - sell out), an increase of 400,000 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 11:05 p.m. on September 5 at 3,593.9 USD/ounce, up 49.1 USD.
Gold price forecast
Gold prices increased sharply and hit a new record high after an important US economic report showed signs of weakness.
The August employment report just released by the US Department of Labor shows that the number of non-farm jobs increased by only 22,000, much lower than the expectation of 75,000. The unemployment rate is at 4.3%, in line with market forecasts.
This report reinforces the view of the "puppet" in US monetary policy, who want to lower interest rates faster. After the report, the market now expects the Fed to cut a total of three cuts of 0.25 percentage points this year.
According to CME Group's FedWatch tool, traders are now almost certain that the Fed will cut interest rates by 25 basis points at the end of the two-day policy meeting, which ends on September 17. Gold - non-interest-bearing assets often benefit from a low interest rate environment.
The breakout of over $3,500 an ounce has put the gold market in overbought territory. However, gold prices still have room to increase as instability continues to dominate global sentiment, according to an analyst.
In the latest report, Suki Cooper - Head of Commodity Research at Standard Chartered Bank predicts that gold prices will average about 3,700 USD/ounce in the fourth quarter.
The recent rally has been driven by a series of factors, including tariff concerns, expectations of monetary easing, the growing US public debt burden and concerns about the Feds independence, she said. Gold's safe-haven appeal continues to increase ahead of the US jobs report and the US Federal Reserve (FED) meeting in September.
Cooper stressed that gold not only set a new record against the US dollar but also appreciated against most other major currencies. This widespread demand will continue to support the long-term uptrend.
Its not surprising that global gold trading volume is rising sharply, but there are two bright spots, she said.
First, cash flow into gold ETP funds increased the fastest since February.
Second, trading volume on the Shanghai Gold Exchange also broke out faster than other regions. This increase is not concentrated in one area.
Note: Gold price data is compared to a day earlier.
See more news related to gold prices HERE...
