Gold price today, September 12: Sharp decrease, high risk of loss

Updated SJC gold price

As of 9:30 a.m., DOJI Group listed the price of SJC gold bars at 129.5-132.8 million VND/tael (buy - sell), down 3.8 million VND/tael for buying and down 2.5 million VND/tael for selling. The difference between buying and selling prices is at 3.3 million VND/tael.

Bao Tin Minh Chau listed the price of SJC gold bars at 129.5-132.8 million VND/tael (buy - sell), down 3.8 million VND/tael for buying and down 2.5 million VND/tael for selling. The difference between buying and selling prices is at 3.3 million VND/tael.

Phu Quy Gold and Stone Group listed the price of SJC gold bars at 128-132.4 million VND/tael (buy - sell), down 4.5 million VND/tael for buying and down 2.9 million VND/tael for selling. The difference between buying and selling prices is at 4.4 million VND/tael.

The buying-selling gap is pushed up too high, increasing the risk for individual investors. Personal investors, especially those with a "surfing" mentality, need to consider carefully before putting money down.

9999 round gold ring price

As of 9:30 a.m., DOJI Group listed the price of gold rings at 126.2-129.2 million VND/tael (buy - sell), down 1.3 million VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 127.7-130.7 million VND/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling is 3 million VND/tael.

Phu Quy Gold and Stone Group listed the price of gold rings at 125.7-128.7 million VND/tael (buy - sell), down 1.8 million VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.

World gold price

At 9:35 a.m., the world gold price was listed around 3,637.6 USD/ounce, up 5.4 USD compared to a day ago.

Gold price forecast

International metals trading expert Tai Wong said that world gold prices are supported by a sharp increase in weekly jobless claims, reaching a three-year high of 263,000, while the core CPI remains high at 0.3% per month.

He also said that although recent price movements have shown signs of fatigue from buyers, the outlook for gold in the next few months is still positive, limiting the risk of gold being deeply regulated.

Investors are still betting on the possibility that the US Federal Reserve (FED) will loosen interest rate policy at its meeting next week. According to data from CME FedWatch, the majority of those surveyed believe that the possibility of the FED cutting interest rates by 0.25% at the next meeting is even a small chance of a 0.5% cut. Before the US economic data was released, gold prices had fallen by up to 0.6%.

In the medium and long term, the outlook for gold prices is still quite positive. Gold is still considered a safe haven asset in the context of inflation and global economic risks. The possibility of the Fed and other central banks switching to a rate cutting cycle will continue to create a favorable environment for gold.

Amy Gower - Strategist for metals & mining commodities at Morgan Stanley (a global financial services and investment banking group headquartered in New York - USA) believes that gold is not simply a safe-haven asset. The development of gold prices is showing investors many things about the global economic situation and the financial market.

With a gain of more than 38% since the beginning of the year and silver up more than 42%, there are clearly major fluctuations. Gower listed a number of key factors driving the rally.

First of all, central banks are on track for another year of strong net buying, with gold now accounting for a larger proportion of central bank reserve Treasury bonds for the first time since 1996. This is a strong credit note for the long-term value of gold.

Gold-backed ETFs recorded a cash flow of $5.5 billion in August alone, with the highest capital inflows since the beginning of the year outside 2020, showing renewed interest from institutional investors, she said.

With inflation still above targets in many major economies, the surprising attractiveness of gold, even as a non-yielding asset, she added. And investors are betting that central banks could soon have to cut interest rates, which could continue to support gold prices.