SJC gold bar price
As of 9:00 a.m., the price of SJC gold bars listed by DOJI Group was at 78.5 - 80.5 million VND/tael (buy - sell).
Compared to the beginning of the previous trading session, gold prices at DOJI remained unchanged in both buying and selling directions.
The difference between buying and selling price of SJC gold at DOJI Group is at 2 million VND/tael.
Meanwhile, Saigon Jewelry Company listed the price of SJC gold at 78.5 - 80.5 million VND/tael (buy - sell).
Compared to the beginning of the previous trading session, the gold price at Saigon Jewelry Company SJC remained unchanged in both buying and selling directions.
The difference between buying and selling price of SJC gold at Saigon Jewelry Company is at 2 million VND/tael.
9999 gold ring price
This morning, the price of 9999 Hung Thinh Vuong round gold ring at DOJI was listed at 77.35-78.50 million VND/tael (buy - sell); increased by 50,000 VND/tael in both directions.
Saigon Jewelry Company listed the price of gold rings at 77.25 - 78.50 million VND/tael (buy - sell); an increase of 100,000 VND/tael for buying and 50,000 VND/tael for selling.
Bao Tin Minh Chau listed the price of gold rings at 77.33-78.48 million VND/tael (buy - sell), an increase of 50,000 VND/tael for buying and unchanged for selling.
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 9:15 a.m., the world gold price listed on Kitco was at 2,503.1 USD/ounce, up 4.3 USD/ounce compared to the beginning of the previous trading session.
Gold Price Forecast
World gold prices increased despite the increase in the USD index. Recorded at 9:15 a.m. on September 10, the US Dollar Index, which measures the fluctuations of the greenback against 6 major currencies, was at 101.657 points (up 0.14%).
At the beginning of the trading session in the US market, the world gold price increased, investors increased their gold purchases. The US August employment report was gloomy, increasing expectations of the US Federal Reserve (FED) easing monetary policy.
Experts say that the number of new jobs in August reached 142,000, lower than the previously predicted 160,000 jobs. This has extremely important implications for the FED's monetary policy.
The unemployment rate fell slightly to 4.2% from 4.3%, but remains high compared to the 3.8% recorded a year ago. The total number of unemployed people increased from 6.3 million to 7.1 million over the past year, the lowest inflation rate in three years, reinforcing the view that the Fed is about to cut interest rates.
Traders now see a 73% chance of a 25 basis point cut at next week's meeting and a 27% chance of a 50 basis point cut, according to the CME FedWatch tool.
Peter A. Grant, vice president and senior metals strategist at Zaner Metals, is among those who expect gold to hit an all-time high. He said the precious metal will likely fluctuate somewhat within its established price range.
The market seems to be accepting that the Fed is likely to cut by 25 basis points, the expert said. He forecasts that gold's main support zone is $2,470/ounce and the main resistance level is $2,520/ounce.
Meanwhile, Kinesis currency market analyst Carlo Alberto De Casa said: “If inflation figures come in much lower than expected and raise hopes of a 50 basis point cut, gold could hit an all-time high.
But even if the consensus is still for a 25 basis point cut, gold will not see a sharp decline as the Fed will definitely cut rates.”
