SJC gold bar price
As of 9:30 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 prices 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); unchanged.
Saigon Jewelry Company listed the price of gold rings at 77.8-79.1 million VND/tael (buy - sell); unchanged.
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 9:30 a.m., the world gold price listed on Kitco was at 2,577 USD/ounce, up 15 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 9:30 a.m. on September 13, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 101.120 points (down 0.23%).
The US Dollar Index fell to its lowest level this year as market optimism about a strong move by the US Federal Reserve (FED) grew.
According to CME's FedWatch tool, the market is certain of a policy pivot from the US central bank at next week's meeting, with a 57% chance of a 25 basis point rate cut and a 43% chance of a 50 basis point cut. This would be the Fed's first rate cut since 2020.
Experts say that in the context of central banks loosening monetary policy and the tense presidential election in the US, gold reaching the $3,000/ounce mark is just a matter of time.
Ewa Manthey, commodity strategist at ING, said the Fed’s long-awaited rate cut would send gold breaking through to new highs. In addition, the US presidential election in November would also boost gold prices until the end of the year.
Sharing the same view, Jim Wyckoff - senior market analyst at Kitco Metals said that the gold market is on an upward trend as the European Central Bank lowered interest rates this week, the FED is likely to lower interest rates next week and inflation "cools down".
The European Central Bank (ECB) has just announced a further 0.25% interest rate cut, down to 3.5%. This is the second time this year that the ECB has cut interest rates in the context of cooling inflation and economic growth in the region avoiding the risk of recession.
The World Gold Council's 2024 Central Bank Gold Reserve Survey found that 29% of respondents plan to increase their gold holdings in the next 12 months, the highest proportion since the survey began in 2018.
