Updated SJC gold price
As of 9:30 a.m., DOJI Group listed the price of SJC gold bars at 128.1-131.1 million VND/tael (buy - sell), down 1.4 million VND/tael for buying and down 1.7 million VND/tael for selling. The difference between buying and selling prices is at 3 million VND/tael.
Bao Tin Minh Chau listed the price of SJC gold bars at 128.1-131.1 million VND/tael (buy - sell), down 1.4 million VND/tael for buying and down 1.7 million VND/tael for selling. The difference between buying and selling prices is at 3 million VND/tael.
Phu Quy Jewelry Group listed the price of SJC gold bars at 127.1-131.1 million VND/tael (buy - sell), down 900,000 VND/tael for buying and down 1.3 million VND/tael for selling. The difference between buying and selling prices is at 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 in - sell out), unchanged. The difference between buying and selling is 3 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 127-130 million VND/tael (buy - sell), down 700,000 VND/tael 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 in - sell out), unchanged in both directions. The difference between buying and selling is 3 million VND/tael.
World gold price
At 9:40 a.m., the world gold price was listed around 3,641.4 USD/ounce, up 3.5 USD compared to a day ago.
Gold price forecast
Last week, gold hit an all-time high of $3,674.27 an ounce (at spot). Spot gold prices have also surpassed the inflation rate peak set on January 21, 1980, when prices reached 850 USD/ounce, equivalent to about 3,590 USD today, according to a valuation method.
Golds rally is driven by growing concerns about the US economic outlook, as investors seek a hedge against inflation and a weak currency, and prices could soar if the stock market begins to weaken, Bloomberg reported.
World gold prices are anchored partly due to the latest data showing US consumer sentiment fell more strongly than expected, while inflation expectations continue to increase.
The University of Michigan announced on Friday that the preliminary index of the September Consumer Psychology survey reached 55.4. This figure is much lower than economists' forecast of 58, and also lower than August's 58.2.
Ms. Joanne Hsu - Director of Consumer survey - said: "Consular psychology decreased by less than 3 index points in early September. The decline in economic assessment this month is especially evident in the low- and middle-income consumer groups".
Components of the September index showed that most sectors decreased, with long-term inflation expectations increasing and many consumer spending sectors reflecting the impact of high prices.
In other news, US Treasury Secretary Bessent will meet with Chinese Deputy Prime Minister He Lap Phong in Madrid (Spain) next week to discuss trade, economic and national security issues, showing progress in negotiations between the two sides.
The US and India are also getting closer to resolving their differences in a trade deal, according to Sergio Gor, who was nominated by US President Donald Trump as US Ambassador to India.
Technically, speculators who price December gold futures have a strong overall technical advantage in the short term. The next bullish target is to push the closing price above the solid resistance zone of 3,750 USD/ounce. On the contrary, the next short-term bearish target for the sellers is to push prices below the solid technical support zone of 3,550 USD/ounce.
The first resistance level was seen at $3,700/ounce, followed by a high of $3,715.2/ounce for this week's contract. The first level of support was seen at an overnight low of $3,667.30 an ounce, followed by $3,650 an ounce.
Note: Gold price data is compared to a day earlier.
See more news related to gold prices HERE...
