Gold price today 19.9: Buyers suffer a loss of 3 million VND/tael after a week

SJC gold bar price

Entering the last trading session of the week, Saigon SJC Jewelry Company listed the price of SJC gold bars at 144.6-147.6 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.

Compared to the same time last week (September 12), SJC gold bar price at Saigon SJC Jewelry Company increased by 1.6 million VND/tael in both buying and selling directions.

Meanwhile, DOJI listed SJC gold price at the threshold of 144.6-147.6 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.

Compared to the same time last week (September 12), SJC gold bar prices at DOJI both increased by 1.6 million VND/tael in both buying and selling directions.

If buying SJC gold bars in the session on September 12 and selling them in today's session (September 19), buyers at Saigon SJC and DOJI Jewelry Company will lose about 1.4 million VND/tael.

9999 gold ring price

At the same time, DOJI Group listed the price of gold rings at 144-148 million VND/tael (buying - selling). The buying - selling difference is at 4 million VND/tael.

Phu Quy Gold and Gems Group listed the price of gold rings at the threshold of 144.6-147.6 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.

If buying gold rings in the session on September 12 and selling them in today's session (September 19), buyers at DOJI will lose 3 million VND/tael, while buyers at Phu Quy will lose 1.8 million VND/tael.

World gold price

As of 9:15 am, world gold prices were listed at 4,377 USD/ounce, up 29.3 USD compared to the same time a week ago.

Gold price forecast

Gold prices recovered in a volatile week, as the first sell-off of the week due to oil prices soaring, US Treasury bond yields approaching 5% and expectations of the US Federal Reserve (Fed) raising interest rates shifted to a strong recovery after the Fed actually raised interest rates, while pressure from oil prices and yields cooled down.

Spot gold prices started the week at 4,340 USD/ounce on the evening of September 13, then quickly under pressure as traders considered higher inflation risks due to rising crude oil prices and the return of US-Iran tensions.

The sell-off accelerated in the first 2 days of the week, causing gold prices to fall to a more than one-month low, nearly 4,279.30 USD/ounce on Tuesday, as the market became increasingly certain that the Fed would raise interest rates this week.

Gold prices tried to stabilize on Wednesday before the Fed's decision, but the recovery failed after the Federal Open Market Committee (FOMC) voted 12-0 to raise interest rates by 25 basis points, bringing the target interest rate range to 3.75%-4.00%.

Meanwhile, updated forecasts show that 16/18 Fed officials still expect another wave of interest rate hikes before the end of the year. Spot gold prices fell again after the announcement and set a weekly low of nearly 4,261.80 USD/ounce on Wednesday afternoon.

Precious metals recovered on Thursday as crude oil prices fell, the USD weakened and US Treasury bond yields cooled down, helping traders ease part of the pressure after the Fed's decision. The upward momentum extended to Friday as oil prices fell for the third consecutive session and yields left weekly highs, bringing gold prices to a weekly high of 4,400.60 USD/ounce.

After adjusting from a high in this session, spot gold prices slightly decreased at the end of the week, trading around 4,377 USD/ounce. As a result, the precious metal still increased on the 5-day chart and ended a 3-week consecutive decline.

The latest weekly gold survey by a precious metals website shows that Wall Street experts simultaneously lean towards an upward trend after the post-FED gold rally, while Main Street investors reinforced their majority expect prices to rise after the positive performance of gold this week.