SJC gold bar price
As of 6:00 PM, brands maintained the same gold bar price decrease of 300,000 VND/tael compared to this morning's trading session, listing the lowest buying price at the threshold of 142.5 million VND/tael and selling at the highest price at 146.5 million VND/tael.
Meanwhile, Saigon SJC Jewelry Company, DOJI, Phu Quy, Bao Tin Minh Chau simultaneously listed SJC gold bar prices at 142.3-145.3 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.
9999 gold ring price
At the same time, DOJI Group listed the price of gold rings at the threshold of 142.5-146.5 million VND/tael (buying - selling), keeping the same decrease of 300,000 VND/tael in both directions. The buying - selling difference is at 4 million VND/tael.
Phu Quy Gold and Gems Group listed the price of gold rings at the threshold of 142.3-145.7 million VND/tael (buying - selling). The buying - selling difference is at 3.4 million VND/tael.
The price of gold rings is listed by Bao Tin Minh Chau at the threshold of 142.5-146.5 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 141.7-145.7 million VND/tael (buying - selling), down another 700,000 VND/tael.
Bao Tin Minh Chau listed Thang Long 9999 Dragon Gold Jewelry at the threshold of 140.5-145.5 million VND/tael (buying - selling), down 300,000 VND/tael on the selling side.
World gold price
Recorded at 6:00 PM, world gold prices were listed around the threshold of 4, 279.8 USD/ounce, continuing the downward trend of 18.6 USD (equivalent to a decrease of 0.43%).
Gold price forecast
Gold prices maintained a downward trend as disruptions to oil flows from the Middle East increased, along with expectations that the US Federal Reserve (Fed) will raise interest rates this week.
The precious yellow metal once fell 0.4% to below 4,290 USD/ounce, after falling more than 1% in the previous session to a 5-week low.
The prospect of higher energy prices boosting inflation has put pressure on the Fed to implement its first interest rate hike in 3 years. For traders, a 92% probability of this will occur when the central bank meets in the coming days. Higher borrowing costs often negatively impact gold, a non-interest asset.
Oil prices rose after Saudi Arabia closed the East-West pipeline due to attacks last week. This move risks millions of barrels of oil being transported through here every day to avoid chaos in the Strait of Hormuz, at a time when the market is in short supply. The country has not yet announced the interruption time and the possibility of increasing freight trips through Hormuz to compensate for the closure.
The yield of 10-year US Treasury bonds has risen to its highest level in nearly two decades due to concerns about inflation and increasing government and corporate borrowing demand. This is another obstacle for gold - an asset that does not yield yields.
The gold market fell more than 3% in September, after trading above 4,700 USD/ounce at the end of August, as traders continuously adjusted the Fed's policy outlook.
The information in the article only reflects market developments, not investment recommendations.
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