SJC gold bar price
As of 6:00 PM, Phu Quy, DOJI, Bao Tin Minh Chau listed SJC gold bar prices at 143.6-146.6 million VND/tael (buying - selling), unchanged in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.
9999 gold ring price
As of 6:00 PM, Phu Quy Gold and Gems Group listed the price of gold rings at the threshold of 143.6-47 million VND/tael (buying - selling). The buying - selling difference remained at 3.4 million VND/tael.
DOJI Group listed the price of gold rings at 144-148 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 144-148 million VND/tael (buying - selling). The buying - selling difference is at 4 million VND/tael.
Jewelry gold price
Phu Quy listed the price of 9999 jewelry gold at the threshold of 141-144 million VND/tael (buying - selling), increasing and decreasing by 1 million VND/tael respectively compared to the closing session yesterday.
DOJI listed 9999 jewelry gold at the threshold of 143.5-147.5 million VND/tael (buying - selling), an increase of 500,000 VND/tael compared to the closing session yesterday.
Bao Tin Minh Chau listed Thang Long 9999 Dragon Gold Jewelry at 142-147 million VND/tael (buying - selling), unchanged in both buying and selling directions compared to the previous closing session.
World gold price
Recorded at 6:00 PM, world gold prices were listed around the threshold of 4,376.8 USD/ounce, down 24 USD.
Gold price forecast
Gold prices rose slightly in today's trading session, supported by a weakening USD, while investors are waiting for important US inflation data to look for clues about the direction of interest rates from the US Federal Reserve (Fed).
An analyst from the leading Swiss financial and banking group (UBS) said that a slightly weaker USD is supporting gold prices, because this precious metal has most of the time a reverse correlation with the greenback. Along with that, concerns about global debt continue to support gold demand.
In addition, the USD Index slightly decreased, making gold valued in greenbacks more accessible to foreign buyers.
The market is currently awaiting US producer price index (PPI) data, expected to be released at 12:30 GMT (ie 7:30 PM today Vietnam time), followed by consumer inflation data expected to be released tomorrow.
In case the figures are higher than expected, the possibility of the Fed raising interest rates next week will increase further, which contributes to putting pressure on gold prices.
Most economic experts believe that the Fed is likely to keep interest rates unchanged at the meeting on September 15-16 and for the rest of this year.
However, according to CME's FedWatch Tool, traders are assessing the probability of the Fed raising interest rates next week at around 60%.
From a geopolitical perspective, US President Donald Trump said he expects the war with Iran to end after the US midterm elections in November, and once again threatened to attack a location related to Iran's nuclear program. Brent oil prices fluctuate above $100/barrel.
The US total debt for the first time exceeded 40,000 billion USD, the US Treasury Department said last month, increasing new warnings about the risk of a fiscal crisis taking shape.
The European Central Banks (ECB) are forecast to raise interest rates for the second time this year, as policymakers seek to curb rising inflation due to energy costs.
Gold price data is compared to the previous day.
The information in the article only reflects market developments, not investment recommendations.
See more news related to gold prices HERE...
