Gold price today 16.9: Gold rings of some brands suddenly increase again

SJC gold bar price

Saigon SJC Jewelry Company listed SJC gold price at 142.3-145.3 million VND/tael (buying - selling), unchanged compared to the previous trading session closing. The buying - selling difference was at 3 million VND/tael.

Similarly, DOJI listed SJC gold price at 142.3-145.3 million VND/tael (buying - selling), unchanged compared to the previous trading session closing. The buying - selling difference was at 3 million VND/tael.

Phu Quy listed the price of SJC gold bars at 142.3-145.3 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.

SJC gold bar price was listed by Bao Tin Minh Chau at 142.3-145.3 million VND/tael (buying - selling), unchanged compared to the previous trading session closing. The buying - selling difference was at 3 million VND/tael.

9999 gold ring price

As of 6:00 AM, DOJI Group listed the price of gold rings at 142.7-146.7 million VND/tael (buying - selling), reversing to increase by 200,000 VND/tael in both directions compared to early yesterday morning. The buying - selling difference is at 4 million VND/tael.

Phu Quy Jewelry Group listed the price of gold rings at the threshold of 142.3-145.7 million VND/tael (buying - selling), maintaining a stable state in both directions compared to early yesterday morning. The buying - selling difference is at 3.4 million VND/tael.

The price of gold rings was listed by Bao Tin Minh Chau at 142.7-146.7 million VND/tael (buying - selling), an increase of 200,000 VND/tael in both directions. The buying - selling difference is at 4 million VND/tael.

World gold price

As of 9:25 am, world gold prices were listed at 4,293.4 USD/ounce, up slightly 0.01%.

Gold price forecast

Gold prices fluctuated slightly after two consecutive declining sessions when high oil prices continued to trigger concerns about inflation and made the prospect of raising interest rates almost certain before the policy decision of the Federal Reserve (Fed) at the end of today (local time).

Gold bars are trading around 4,290 USD/ounce. High energy prices have pushed bond yields up, and traders are currently betting with a 92% probability that the Fed will raise interest rates. Higher borrowing costs often negatively impact gold, which is an unprofitable asset.

The yield of 10-year US Treasury bonds has risen to its highest level in nearly 2 decades, the latest historical milestone in a massive global bond sell-off due to booming capital investment and soaring energy prices are exacerbating inflation. This yield, which plays a role as a benchmark for global borrowing costs, rose 5 basis points to 5.04% yesterday. This is also the highest level since 2007.

This further strengthens investors' expectations that the central bank will raise interest rates for the first time since 2023. If this does not happen, or if the Chairman of the US Federal Reserve (Fed) does not make clear commitments to additional increases, traders may demand higher yields for long-term bonds to protect their investments from the risk of continued high inflation.

According to strategists, the fact that the market has reflected a high probability that the Fed will raise interest rates this week, the biggest incertitude lies not in the interest rate hike, but in what happens afterwards.

If the Fed continues to open up for further policy tightening, gold prices may be more easily negatively affected and fall to 4,000 USD/ounce if the important support level of 4,250 USD is broken.