SJC gold bar price
As of 9:00 a.m., the price of SJC gold bars was listed by DOJI Group at 80 - 82 million VND/tael (buy - sell).
Compared to the beginning of the previous trading session, gold price at DOJI increased by 1.5 million VND/tael for both buying and selling.
The difference between buying and selling prices of SJC gold at DOJI Group is at 2 million VND/tael.
Meanwhile, Saigon Jewelry Company SJC listed the price of SJC gold at 80 - 82 million VND/tael (buy - sell).
Compared to the beginning of the previous trading session, the gold price at Saigon Jewelry Company SJC increased by 1.5 million VND/tael for both buying and selling.
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 78 - 79.2 million VND/tael (buy - sell); unchanged.
Saigon Jewelry Company listed the price of gold rings at 77.9 - 79.2 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 9:10 a.m., the world gold price listed on Kitco was at 2,584.1 USD/ounce, almost unchanged from the beginning of the previous trading session.
Gold Price Forecast
World gold prices are high amid a decline in the USD index. Recorded at 9:10 a.m. on September 17, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 100.357 points (down 0.08%).
Phillip Streible, chief market strategist at Blue Line Futures, said that market expectations for the scenario of the US Federal Reserve (FED) cutting the USD interest rate by 50 basis points have now been reflected in the market and the world gold price: "This explains why the world gold price will decrease if the USD interest rate is only adjusted down by 25 basis points."
The focus of the market this week is the Fed's interest rate decision tomorrow (September 18). The CME FedWatch Tool survey shows that the possibility of the Fed cutting the USD base interest rate by about 50 basis points, estimated at about 61%.
According to Peter A. Grant - Vice President and Senior Metals Strategist at Zaner Metals - recent developments related to US presidential candidate Donald Trump could push up gold prices. The US Federal Bureau of Investigation (FBI) said that Donald Trump was the victim of an assassination plot last Sunday.
“We expect investment demand for gold to continue to recover in the coming months,” ANZ analysts said in a recent research note. “A rate cut of around 100 basis points would result in an additional 200 to 250 tonnes of gold being purchased by ETFs.”
ANZ experts predict that the world gold price could reach 2,700 USD/ounce in the short term and reach a high of 2,900 USD/ounce by the end of 2025.
In addition, the increase in gold reserves purchased by emerging market (EM) and Asian central banks is also a positive factor supporting gold prices. In particular, China has attracted the world's attention with its strong allocation to gold.
According to an update from the World Gold Council (WGC), as of May 2024, China’s official gold holdings had increased to around 2,300 tonnes, or approximately 5% of its total reserves. This is an increase of around 20% compared to 1,900 tonnes just two years ago in 2022.
Gold is considered a safe haven asset in times of economic and political uncertainty. The precious metal typically appreciates in low interest rates, while higher rates reduce the appeal of non-yielding assets.
