Gold price today 14. 9: Unexpectedly surge

SJC gold bar price

As of 10:18 AM, Saigon SJC Jewelry Company listed SJC gold prices at 143.2-146.2 million VND/tael (buying - selling), an increase of 200,000 VND/tael in both directions. The buying - selling difference is at 3 million VND/tael.

Similarly, DOJI listed SJC gold prices at the threshold of 143.2-146.2 million VND/tael (buying - selling), simultaneously increasing by 200,000 VND/tael in both directions. The buying - selling difference is at 3 million VND/tael.

Phu Quy listed the price of SJC gold bars at 143.3-14.62 million VND/tael (buying - selling), an increase of 200,000 VND/tael in both buying and selling directions compared to the closing session of last week. The buying - selling difference is at 3 million VND/tael.

SJC gold bar price was listed by Bao Tin Minh Chau at the threshold of 143-146.2 million VND/tael (buying - selling), an increase of 200,000 VND/tael in both directions. The buying - selling difference is at 3 million VND/tael.

9999 gold ring price

At the same time, DOJI Group listed the price of gold rings at 143-147 million VND/tael (buying - selling), unchanged compared to the closing session last week. The buying - selling difference is at 4 million VND/tael.

Phu Quy Jewelry Group listed the price of gold rings at the threshold of 143.2-146.5 million VND/tael (buying - selling), increasing by 200,000 VND/tael and 500,000 VND/tael respectively. The buying - selling difference is at 3.3 million VND/tael.

The price of gold rings was listed by Bao Tin Minh Chau at 143-147 million VND/tael (buying - selling), unchanged compared to the previous closing session. The buying - selling difference was at 4 million VND/tael.

World gold price

As of 9:25 am, world gold prices were listed at 4,352.2 USD/ounce, up 4.4 USD.

Gold price forecast

World gold prices continued to fluctuate after a third consecutive week of decline as US inflation data rose higher than expected, increasing the possibility that the Federal Reserve (Fed) will raise interest rates later this week.

Gold bar prices traded around 4,340 USD/ounce, after a third consecutive week of decline. Data released on Friday showed that core inflation increased in August, with the core consumer price index (excluding food and energy costs) increasing by 0.3% compared to the previous month. Gold prices closed the session at a higher level at that time, however, for the whole week, the precious metal gold still fell by 1.8%.

The latest inflation index puts more pressure on the Fed to issue its first interest rate hike in 3 years when the agency meets this week. Traders are betting on a 88% chance of an increase in September. Higher borrowing costs often negatively impact gold prices, which are non-performing assets.

With the conflict in the Middle East continuing to escalate, oil prices surged again, creating more inflationary pressure. Brent oil is heading for 107 USD/barrel, after recovering nearly 9% last week. The meeting scheduled to take place today between Iran and some Gulf countries to establish a temporary shipping route through the Strait of Hormuz has been postponed, causing efforts to increase transportation through this important waterway route to fall into deadlock.

Gold prices have traded in a relatively narrow range around the $4,400 mark since jumping from a nearly $4,000/ounce low in July, amid traders continuously adjusting forecasts on the Fed's policy outlook.

Despite short-term resistance, many investors still bet that gold bars will slightly increase again when they find their traditional value as a hedging tool for the investment portfolio.