Domestic gold price
As of 9:00 AM today, brands unexpectedly maintained the price range after many days of continuous fluctuations, listing the buying price of SJC gold bars at the lowest level of 143.2 million VND/tael and the selling price at the highest level of 148 million VND/tael.
In which, Phu Quy, DOJI, Bao Tin Minh Chau listed SJC gold bar prices at 143.6-146.6 million VND/tael (buying - selling), unchanged compared to the previous closing session. The buying - selling difference was at 3 million VND/tael.
9999 gold ring price
As of 9:00 AM, Phu Quy Gold and Gems Group listed the price of gold rings at the threshold of 143.6-47 million VND/tael (buying - selling), reversing to increase by 1.2 million VND/tael in both directions. The buying - selling difference remained at 3.4 million VND/tael.
DOJI Group listed gold ring prices at 144-148 million VND/tael (buying - selling), both increasing by 300,000 VND/tael in both directions. 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), an increase of 400,000 VND/tael in both directions. The buying - selling difference is at 4 million VND/tael.
World gold price
Recorded at 9:15 am, world gold prices were listed around the threshold of 4,410.6 USD/ounce, up 9.9 USD/ounce.
Gold price forecast
Spot gold and silver prices rose at the end of yesterday's trading session as the USD weakened and safe-haven demand related to the US-Iran conflict overwhelmed the impact of rising US government bond yields and crude oil prices continued to rise sharply.
The focus of the market is still the question of whether inflation data this week can consolidate or reverse the probability of about 60% that the market is betting on the possibility of the Fed raising interest rates at the meeting on September 15-16.
The producer price index (PPI) for August will be announced today, followed by the consumer price index (CPI) on Friday (September 11). These two reports are attracting more market attention after Brent oil prices returned above $100/barrel and pushed US 10-year government bond yields to near their highest level since October 2023.
The recent increase in gold is supported by the weakening USD, safe-haven demand in the face of geopolitical tensions and fluctuations related to the US Treasury Department's bond repurchase program. However, the interest rate environment is still a factor limiting the upward momentum of the precious metal.
If PPI or CPI figures are high, this will strengthen expectations that the Fed will raise interest rates and continue to put pressure on non-yielding metals. Conversely, if the figures are lower than expected, arguments in favor of the Fed temporarily stopping interest rate hikes, according to Fed Governor Christopher Waller, will have more basis.
Although precious metals maintained their upward momentum, market internal developments were differentiated. Gold prices rose despite higher bond yields, thanks to the weakening USD and investors waiting for inflation figures.
The market does not ignore the impact of interest rates, but currently assesses the monetary channel and the need to hedge against fiscal risks as more influential factors. This makes the announced PPI and CPI indices important tests, thereby determining whether the recovery of precious metals can expand or only create another lower peak under the impact of the Fed's interest rate policy.
Gold price data is compared to the previous day.
The information in the article only reflects market developments, not investment recommendations.
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