Gold price update morning of September 7th: Waiting for a correction, gold is still in the group attracting capital flows

SJC gold bar price

As of 6:00 AM today (September 7), Phu Quy listed SJC gold bar prices at the threshold of 144.6-147.6 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.

At the same time, SJC gold bar prices were listed by DOJI at the threshold of 144.6-147.6 million VND/tael (buying - selling). The buying - selling difference was at 3 million VND/tael.

SJC gold bar price was listed by Bao Tin Minh Chau at the threshold of 144.6-147.6 million VND/tael (buying - selling), down 1.2 million VND/tael compared to early yesterday morning. The buying - selling difference is at 3 million VND/tael.

9999 gold ring price

Phu Quy Gold and Gems Group listed the price of gold rings at the threshold of 144.6-147.9 million VND/tael (buying - selling). The buying - selling difference is at 3.3 million VND/tael.

DOJI Group listed the price of gold rings at 146-150 million VND/tael (buying - selling). The buying - selling difference is at 4 million VND/tael.

The price of gold rings is listed by Bao Tin Minh Chau at the threshold of 145.8-149.8 million VND/tael (buying - selling). The buying - selling difference is at 4 million VND/tael.

Jewelry gold price

DOJI listed 9999 jewelry gold at the threshold of 144.5-148.5 million VND/tael (buying - selling), unchanged in both buying and selling directions.

Bao Tin Minh Chau listed Thang Long 9999 Dragon Gold Jewelry at the threshold of 143.8-144.8 million VND/tael (buying - selling), unchanged compared to the closing session last week.

World gold price

Recorded at 6:00 AM, world gold prices were listed around 4,429.1 USD/ounce, down 43.1 USD.

Gold price forecast

According to Bank of America (BofA) - the second largest bank in the US, investors should maintain a buying position for commodities and gold, as policy intervention measures are being implemented to limit the upward momentum of bond yields and support the financial market.

Central banks are moving towards higher interest rates to maintain policy credibility and prevent bond yields from continuing to rise.

In that context, strategists recommend that investors maintain a proportion of goods and hedge assets in the face of the risk of currency devaluation.

In the past week, capital inflows were positive in many large asset groups. Cash funds attracted 30 billion USD, followed by bonds with 18.3 billion USD, gold 3.2 billion USD and stocks 2.8 billion USD. The amount of money flowing into stocks was the lowest in 9 weeks.

Cryptocurrency funds recorded 500 million USD inflows, extending a 5-week streak with a total of 5.5 billion USD, the highest level since October.

In the fixed-income asset group, investment-rated corporate bonds attracted $9.2 billion, extending the capital inflow streak to 22 consecutive weeks. US Treasury bonds attracted $6.2 billion, marking the 10th consecutive week of capital inflows, while high-yield bonds recorded capital returns with $1.5 billion. Bank loans recorded $600 million in withdrawal capital, ending the 13-week consecutive inflow streak.

Thus, gold still attracts capital in 3rd place in the large asset group, after cash funds and bonds.

However, in the context of intertwined signals, the direction of gold prices next week is not yet clearly defined. Fluctuations may increase around the time of the announcement of US inflation data, before the market establishes a clearer new direction.