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 77.45-78.6 million VND/tael (buy - sell); unchanged.
Bao Tin Minh Chau listed the price of gold rings at 77.43 - 78.63 million VND/tael (buy - sell); unchanged.
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 6:00 a.m. on September 8, the world gold price listed on Kitco was at 2,497.5 USD/ounce.
Gold Price Forecast
World gold prices fell sharply last night amid an increase in the USD index. Recorded at 6:00 a.m. on September 8, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 101.140 points (up 0.07%).
Many experts are giving negative comments on gold prices next week. Darin Newsom - senior market analyst at Barchart.com said that gold prices will fall next week: "With the US FOMC meeting next week, December gold looks to be slightly lower next week. The short-term trend on the daily closing chart remains bearish."
Phillip Streible, chief market strategist at Blue Line Futures, is bearish on the precious metal next week. The expert believes that a prolonged easing cycle with multiple 25 basis point cuts by the US Federal Reserve (FED) could disappoint the market. However, in the long term, gold prices will still be supported.
“Weaker-than-expected U.S. job growth in the latest report added to the excitement about a Fed rate cut at its next meeting (September 17-18). That cut is almost certain. However, expectations for a big cut are probably too high and the market will likely be disappointed at that point.”
Mark Leibovit, publisher of VR Metals/Resource Letter, also thinks gold could fall, although he still favors gold in the long term.
After a week dominated by jobs data, inflation is once again the economic data to watch next week, with the US CPI for August due out on Wednesday morning and the ECB interest rate decision on Thursday morning.
Thursday will also see the release of the US PPI for August, along with weekly jobless claims. Next week concludes with the release of the University of Michigan's preliminary survey of consumer sentiment for September on Friday morning.
The latest Kitco News weekly gold survey shows that experts are quite pessimistic about the short-term outlook for gold, while positive investor sentiment is little changed from last week.
This week, 14 analysts participated in the Kitco News gold survey. The results showed a clear shift in sentiment to the downside. Only four experts expect gold prices to rise next week.
Meanwhile, seven analysts believe gold will trade lower next week. The remaining three experts predict the price of the precious metal will fall further.
177 votes were cast in Kitco’s online poll. Main Street investors remained bullish. Exactly 100 traders expect gold prices to rise next week. Only 29 expect the precious metal to trade lower. Forty-eight see gold prices trading sideways next week.
