Gold price at the close of the session on September 16: Strong increase

SJC gold bar price

As of 6:00 PM, Saigon SJC Jewelry Company listed SJC gold price at the threshold of 143.5-146.5 million VND/tael (buying - selling), reversing to increase the price by 1.2 million VND/tael in both directions. The buying - selling difference is at 3 million VND/tael.

Similarly, DOJI listed SJC gold price at the threshold of 143.5-146.5 million VND/tael (buying - selling), simultaneously increasing by 1.2 million VND/tael in both directions. The buying - selling difference is at 3 million VND/tael.

Phu Quy listed the price of SJC gold bars at the threshold of 143.5-146.5 million VND/tael (buying - selling), both increasing by 1.2 million VND/tael in both directions. The buying - selling difference is at 3 million VND/tael.

9999 gold ring price

At the same time, Saigon Jewelry Company SJC listed the price of gold rings at 143 - 146 million VND/tael (buying - selling), an increase of 1.2 million VND/tael in both directions. The buying - selling difference is at 3 million VND/tael.

DOJI Group listed the price of gold rings at 143-147 million VND/tael (buying - selling), an increase of 300,000 VND/tael in both directions compared to this morning. 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 143.5-146.9 million VND/tael (buying - selling), an increase of 1.2 million VND/tael in both directions compared to this morning's trading session. The buying - selling difference is at 3.4 million VND/tael.

Jewelry gold price

DOJI listed 9999 jewelry gold at the threshold of 141.7-145.7 million VND/tael (buying - selling), unchanged compared to the previous closing session.

Phu Quy listed 9999 jewelry gold at the threshold of 141-146 million VND/tael (buying - selling), an increase of 500,000 VND/tael in both directions compared to the closing session yesterday.

World gold price

Recorded at 6:00 PM, world gold price was listed at 4,346.4 USD/ounce, up 52.9 USD (equivalent to an increase of 1.24%).

Gold price forecast

The upward momentum of gold prices has returned after two consecutive declining sessions, as investors await the interest rate decision of the US Federal Reserve (Fed) to be announced at the end of the day.

The upward momentum occurred when the market assessed the probability of the Fed raising interest rates by about 92%, while energy prices and government bond yields at high levels continued to affect monetary policy expectations.

Although today's increase brought spot gold prices back above the 4,300 USD/ounce mark, it is still lower than the levels reached at the end of August when trading above 4,700 USD/ounce.

The interest rate market shows a probability of about 92% that the Fed will increase borrowing costs at the latest meeting, which may mark the first interest rate hike since 2023.

Investors are also waiting for statements from US Federal Reserve (Fed) Chairman Kevin Warsh to look for signals about how the US central bank approaches policy decisions in the future.

If the Fed keeps interest rates unchanged or gives little orientation on the possibility of further interest rate hikes, investors may demand higher yields for long-term US Treasury bonds to offset inflation risks. This is still a possible market reaction, not yet confirmed.

Senior market analysts at IG said that gold prices ended the previous session slightly down, to about 4,293 USD/ounce, amid rising energy prices, rising bond yields, stronger USD, and investors adjusting positions ahead of the Fed's announcement.