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 77.9-79.1 million VND/tael (buy - sell); an increase of 400,000 VND/tael for buying and an increase of 450,000 VND/tael for selling.
Saigon Jewelry Company listed the price of gold rings at 77.8-79.1 million VND/tael (buy - sell); an increase of 500,000 VND/tael for both buying and 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 2,562.7 USD/ounce, up 49.3 USD/ounce compared to the beginning of the previous trading session.
Gold Price Forecast
World gold prices increased amid a decrease in the USD index. Recorded at 9:15 a.m. on September 13, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 101.055 points (down 0.29%).
According to Kitco, some US economic data is supporting gold prices. Gold prices increased sharply when the US producer price index in August increased 0.2% compared to July. The "core" PPI in August (excluding food and energy) increased 0.3% compared to July.
The US Department of Labor also said the number of people filing for unemployment benefits for the first time last week (ending September 7) increased by 2,000 to a seasonally adjusted level of 230,000.
Meanwhile, the European Central Bank (ECB) has just cut its main interest rate by 0.25% to 3.5%. The rate cut was widely expected. Investors widely expect the US Federal Reserve (FED) to cut interest rates next week.
“Gold has tested a historic high after the ECB cut interest rates. Analysts also expect the Fed to start a new rate cut cycle next week, which is beneficial for gold and other precious metals,” said Vladimir Zernov, analyst at FX Empire, on Kitco.
If gold stabilizes above $2,550 an ounce, it will rise to $2,600 an ounce, Zernov said.
Lower inflation and lower interest rates have the effect of lowering bond yields, which is good for the precious metals market. Lower US Treasury yields and the idea of lower US interest rates have also weakened the US dollar, which is also good for gold and silver.
According to the CME FedWatch tool, the market is currently predicting an 87% probability that the US Federal Reserve (FED) will cut interest rates by 0.25% at its upcoming meeting on September 17-18, and a 13% probability that interest rates will be cut by 0.50%. Gold is often favored in the context of low interest rates.
